Nike football shoes are seen in a store in Krakow, Poland on August 29, 2024.
- Nike will continue to be the exclusive uniform provider for the NFL through 2038, a position it has held since 2012.
- The deal comes after the NFL briefly held talks with other bidders competing for the agreement.
- Nike is in the midst of a turnaround under new CEO Elliott Hill and has been criticized for falling behind on innovation.
Nike has renewed its partnership with the National Football League for another 10 years after the league briefly opened the bidding process to competitors and held talks with other companies.
Under the terms of the deal, Nike will continue to be the exclusive provider of uniforms and sideline, practice and base layer apparel for all 32 NFL teams through 2038. Nike has been the NFL's exclusive apparel provider since 2012.
"This partnership renewal is a testament to the strength and success of our collaboration with the NFL," Nike's newly appointed CEO Elliott Hill said in a news release. "As we embark on this new chapter, we're committed to co-creating cutting-edge solutions that meet the rapidly changing needs of NFL athletes and fans, while fueling the league's growth and development initiatives."
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As part of the partnership, Nike said it will work to expand football's global reach and use its sports research lab to address lower body injuries and boost footwear safety.
The company said it will continue to support high school and college football and help bring the sport's "most compelling narratives to life."
"Nike has been an invaluable partner since 2012 and we couldn't be more excited to have them onboard for years to come," NFL Commissioner Roger Goodell said in a statement. "In addition to their products and services for our clubs, players, or fans, Nike is a strategic partner who will help us grow football internationally, support youth football and make advances in player safety."
Money Report
The renewed partnership comes as Nike looks to turn around its business and hold on to its position as the global leader in athletic apparel and footwear.
In October, CNBC reported that the NFL was considering other partners for its uniform contract as it prepared for its agreement with Nike to expire after the 2027 season. The league briefly opened up the process to other bidders and held talks with several companies interested in competing for the agreement, a source previously told CNBC.
The NFL's decision to open up the bidding process came as Nike faced criticism for falling behind on innovation. Earlier this year, it botched a uniform launch with Major League Baseball, prompting widespread complaints from players and fans that the new outfits were see-through, did not fit right and looked "amateurish," ESPN reported at the time.
Still, the issue wasn't enough to scare off the NFL or the NBA, which renewed its contract with Nike in October.
Nike is set to report fiscal second quarter earnings next Thursday.
— Additional reporting by CNBC's Jessica Golden
