One week after Elliott Hill started at the helm of Nike, the company announced a 12-year contract extension as the official on-court uniform and apparel partner of the NBA, WNBA, and G League.
The last contract was an eight-year deal signed in 2015 and began in the 2017–2018 NBA season. That deal was reported to be valued at around $1 billion; CNBC reported the new deal is “much bigger” than that.
The announcement comes less than 24 hours after the WNBA wrapped up its historic season with a Game 5 overtime victory by the New York Liberty. Nike is one of the WNBA’s “Changemakers,” a small group of companies financially investing in the league while also helping grow its business. Nike’s focus is marketing and athlete storytelling.
“Nike has always been more than a league sponsor—we’re a strategic partner with an unwavering commitment to growing the game, alongside the NBA, WNBA, and NBA G League,” said Hill, who had previously worked for the Swoosh for 32 years before retiring in 2020. “Our collective power, global reach, and genuine love for the game will only continue to create new pathways and opportunities for players and fans.”
Nike is also the uniform and apparel partner of the NFL with a deal through the 2027 season. But the sneaker giant isn’t the only company being considered for the next deal, where bidding has been reported as “open and active.” Nike also designs uniforms for MLB.
Nike announced Hill would replace former CEO John Donahoe as CEO in September after a bout of declining sales. Hill is taking over a company in a somewhat weaker position than it’s accustomed to. Its workforce shrunk by 4,300 staffers in the last year, including a large swath of executives. Earlier this month, the company reported a 10% revenue drop in the period of July to September. It’s still an undisputed global powerhouse, but Hill has his work cut out for him.
