PGA Tour Honors Palmer With Full-Page Ad Ortiz Promotes Food Line On "Late Night" Paralympian Promoted As Public Speaker In SI BMW Joins Andretti To Compete In Formula E Stats Unveils New Logo, Brand Strategy Palmer Leaves Unique Marketing Legacy Analysts Bullish On Under Armour-Kohl's Deal Cubs Sue Area Merch Vendors For Infringement Evan Williams Bourbon Signs With MLB Could Nike Golf Apparel Presence Increase?
SBD/April 17, 2014/Marketing and Sponsorship
Nike Signs 23-Year Sponsorship Extension With USATF Valued At More Than $400M
Published April 17, 2014
QUESTIONS PERSIST: In Chicago, Philip Hersh writes while the new agreement is worth double the current one on an annual basis, fans should not "count on the bulk of the extra money going to relatively needy elite athletes ... who get most of their income in personal deals with companies." USATF indicated that the "increased Nike revenue ... will go for a variety of established and new programs." Hersh writes the two parties "striking a balance -- or at least the appearance of one -- will be critical." An example of that is whether Nike will "go all-in" on a possible bid by Eugene, Ore., to host the '19 IAAF Outdoor World Championships, "even though rival Adidas is the event's primary global sponsor." Nike represented "nearly half" of USATF's $21.8M total revenue in '12, and that could increase to "more than two-thirds" with the new deal. Hersh: "Common sense will tell you such a financial stake gives Nike a more privileged position" (CHICAGO TRIBUNE, 4/17).