Nike Extends Deal with Team USA

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Nike Extends Deal with Team USA
Mike Lawrie/Getty Images

Nike signed one of the longest and most valuable sponsorship contracts in sports history on Wednesday, agreeing to extend its sponsorship of the USA Track & Field team for an additional 23 years. The deal makes Nike the exclusive apparel sponsor of the team at the World Championships and Olympics through 2040. Terms were not disclosed, but sources told that the new deal is worth between $450 million and $500 million in cash and goods, dwarfing the deal signed in 2009 and running through 2017 that was worth roughly $10 million a year in cash and goods.

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