Nike extends football uniform deal with NFL through 2038 (#1685597)

Nike Inc. and the National Football League have agreed to extend their longstanding partnership on player uniforms.

The 10-year contract extension locks Nike in with the NFL through 2038. The brand has been the league’s exclusive provider of jerseys, practice, base-layer and sideline apparel for all 32 teams since 2012.

Financial details weren’t disclosed.

As part of the arrangement, Nike and the NFL will support high school and college development programs, work together on marketing and look abroad to expand the league’s fanbase.

The deal provides Nike stability in the football sector as the world’s largest sportswear company begins a turnaround effort under new Chief Executive Officer Elliott Hill, who took the role in October. Nike has endured a difficult year and investors are waiting for Hill to present a plan to reverse a sales slump.

Nike has been criticized by investors and analysts for veering too far from its core sports and performance businesses. Nike Executive Chairman Mark Parker told employees in September that the brand will “get back to doing what we do best: help athletes reach their potential.” Hill has vowed to “put the athlete at the center of everything we do.”