June 10, 2015 BY Yale Schalk / 0
Nearly two months of speculation are over. Today, Nike and the NBA jointly announced an 8-year apparel deal, making Nike the official apparel provider of the NBA, WNBA, and NBA Development League. The deal, estimated at $1 billion, commences with the 2017-18 season, runs through the 2024-25 season, and will feature the Nike Swoosh logo on jerseys – the first time a corporate logo has appeared on official on-court NBA uniforms.
The deal signals a definitive end to adidas’ run as NBA uniform supplier, a position held since 2006. The German sporting goods maker announced on March 16th, 2015 that it would not seek to renew a contract with the NBA, leaving Nike and Under Armour to vie for the job.
While the new partnership is immediately beneficial to both the NBA and Nike as it plays to both companies’ global strengths, Nike’s umbrella brands Jordan and Converse stand to reap the rewards of expanded exposure and market share.
In fact, Nike CEO Mark Parker made a point of addressing that aim in Nike’s statement on the deal today:
“In NIKE, Jordan and Converse we have three of the most connected brands in the world, and look forward to making the global growth of the game a successful strategy for both the NBA and NIKE.”
How exactly Jordan Brand’s considerable notoriety and market presence will be wielded in this new venture is unclear at this time, but it’s safe to say we can expect conspicuous implementation of the Jumpman logo along with the brand’s invaluable wealth of heritage products.
Find the full press release detailing the Nike and NBA partnership below.
Filed under: Air Jordans