Nike, Inc. (NYSE:NKE) shares are trading higher on Wednesday.
Today the company announced a 10-year partnership extension with the National football competition (NFL).
Building on a 12-year successful partnership, Nike will continue as the exclusive supplier of uniforms, sideline, practice and base layer apparel for all 32 NFL teams.
This renewed agreement promises to take the partnership to the next level with a focus on innovation and supporting the evolving needs of NFL athletes.
The partnership aims to drive growth, progress and excellence in the sport by developing high-quality products tailored to the needs of top players.
Nike said its commitment to innovation and player health and safety will be central, with plans to use Nike’s Sport Research Lab to improve footwear safety and tackle lower extremity injuries.
This will not only improve the game at the professional level, but also support the growth of football at all levels.
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Key initiatives include expanding the NFL’s global reach, nurturing the next generation of athletes through grassroots, high school and collegiate programs, and increasing fan engagement.
Nike’s expertise in marketing and storytelling will bring the sport’s most compelling stories to life and connect with fans in new ways.
NFL Commissioner Roger Goodell praised Nike as a strategic partner and highlighted their invaluable role in growing football internationally and promoting player safety.
The ten-year extension underlines the strength of the Nike-NFL partnership and its commitment to shaping the future of football and creating a safer and more inclusive sport for players around the world.
According to Benzinga Pro, NKE stock has lost more than 33% in the past year. Investors can gain exposure to the stock through Brookstone Value Stocks ETF (BATS:BAMV).
Price promotion: NKE shares are trading 2.50% higher at $78.66 at last check on Wednesday.
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This article Nike’s NFL Partnership Gets a Big Boost With 10-Year Deal, Stock Gains originally appeared on Benzinga.com
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