Nike is “close to finalizing an extension of its sponsorship” with the USOC, “guaranteeing it will be outfitting Team USA athletes on the podium through at least 2016,” according to Lefton & Mickle of SPORTSBUSINESS JOURNAL. The renewal “extends Nike’s position as the official outfitter of Team USA.” Nike will provide the “podium uniforms worn during medal ceremonies” at the ’14 Sochi and ’16 Rio de Janeiro Games, and will “have access to U.S. Olympic marks and graphics for use in advertising and marketing and for display on its other brands such as Converse.” Nike has made Team USA-branded hats, shirts and jackets for every Olympics since the ‘06 Turin Games. Terms of the deal were not available, but sources indicated that it is “a modest increase” over the previous deal, which was valued at close to $15M over four years and “was a mix of cash and product.” The renewal is the “first the USOC has completed for the 2013-16 quadrennial” and gives the organization “some early momentum as it looks to extend partnerships with more than a half-dozen key partners” before the ’12 London Games. Nike also sponsors “10 U.S. national governing bodies, including USA Basketball, USA Hockey, U.S. Soccer and USA Track & Field” (SPORTSBUSINESS JOURNAL, 2/21 issue).
