Sporting goods giant Nike reached an eight-year deal Wednesday to become the exclusive on-court apparel provider for the National Basketball Association (NBA). The contract takes effect starting during the 2017-2018 season, replacing a deal between the NBA and Adidas, which expires after the 2016-2017 season.
Nike has targeted basketball as a major growth business due in part to surging interest in the sport in major emerging economies, especially China. In 2014, Nike's revenues from basketball rose 19 percent to $3.1 billion, about 11 percent of total sales. Nike already sponsors many leading basketball stars, including LeBron James, who on Tuesday led the Cleveland Cavaliers to a 2-1 lead in the NBA finals against the Golden State Warriors.
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.