Sportswear maker Nike Inc will be reducing nearly 1,750 jobs, representing nearly five per cent of its global workforce, as part of its restructuring efforts.
Brazilian soccer player Neymar hit back at sportswear maker Nike Inc on Friday, saying the company's statement that it terminated an endorsement deal because he refused to cooperate with an investigation into the alleged sexual assault of a Nike employee was "an absurd lie".
Shares in top-tier Italian football club Juventus fell sharply, on Friday, with a trader attributing the move to rape allegations against its recently acquired star player Cristiano Ronaldo.
Trump, who has frequently railed against the decision by NFL players to kneel during the anthem, acknowledged in the interview that the company had "certain freedoms to do things that other people think you shouldn't do."
With every tackle, save and goal, a simultaneous off-the-pitch marketing battle is being fought between official FIFA World Cup sponsor Adidas and arch-rival Nike Inc to dominate social media to promote their brands.
Nike Inc is dropping its partnership with the Livestrong Foundation, the cancer charity founded by disgraced cyclist Lance Armstrong, the latest repercussion from the doping scandal that last year stripped him of his titles.
Nike Inc shut down its Nike Oregon Project training group on Thursday, following the recent four-year ban of founder and coach Alberto Salazar by the US Anti-Doping Agency.
Neymar's spokeswoman said the athlete would vigorously defend himself if any claim is presented, describing the allegations as baseless and adding that the endorsement deal ended for commercial reasons.
Lance Armstrong has stepped down as chairman of the charity he founded, Livestrong, after US anti-doping officials issued a scathing report detailing his use of performance-enhancing drugs.
'He's done a lot for the African American community, and it's cost him a lot. It's sad' 'To be compared to Ali or Jordan, I really have no words'
Nike Inc, Adidas AG and other companies may cut their spending on sports sponsorships after the unrelenting media coverage of pro golfer Tiger Woods' marital infidelity, a Credit Suisse analyst said on Wednesday. Omar Saad said in a research note that Nike and other companies are being forced to rethink the effectiveness of the vast sums of money they spend on individual and team sponsorships.
Ronaldo's nomination comes after the 33-year-old last week denied rape allegations levelled against him by a woman who sued him in court in the United States.
Amazon's action follows that of other retailers such as Walmart Inc, Target Corp and Nike Inc.
Nike Inc on Wednesday said that it was cooperating with authorities on alleged bribery and corruption at soccer's governing body FIFA.
Shares of Reebok International Ltd, United States' No 2 athletic shoe and apparel maker, rose sharply in after-hours trading amid media reports that it will be acquired by German sporting goods company Adidas-Salomon AG.
The team said on July 3 it would conduct a thorough review of the club's name.
Friends, fellow athletes react to Tiger Woods car crash
Fans in Taiwan wanted a refund and apology after basketball star Michael Jordan spent just 90 seconds on stage during a visit.
A summary of sports events and persons who made news on Thursday
Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him worth which could be worth as much as $1 billion.
Nike Inc, the world's largest sportswear maker, said it had ended its contract with Manny Pacquiao after the Filipino boxer described gays as "worse than animals".
The Philippine election commission will decide on Tuesday whether a boxing match between Manny Pacquiao, who is standing in May's vote, and American welterweight champion Timothy Bradley violates polling rules. On May 9, more than 54 million people in the Philippines will vote for a president, vice-president, 300 lawmakers and thousands of local government posts. Pacquiao, who has courted controversy with comments against gays and same-sex marriage, is running for one of 12 vacant seats in the Senate, the upper house of parliament. Pacquiao, a former eight division world champion, said he will make his final ring appearance on April 9 in Las Vegas against Bradley, the reigning WBO welterweight champion. Walden Bello, a former congressman, has asked the election commission to investigate whether the bout gives Pacquiao undue advantage at the polls because of high-profile advertising and publicity surrounding the boxing match.
US authorities are examining payments made by Nike Inc under a 1996 football sponsorship deal with Brazil.
Under mounting pressure from sponsors and Native American rights groups, Washington Redskins owner Dan Snyder said on Friday he would consider changing the name of the National Football League team whose roots date back to the 1930s. Snyder, who has previously stated he would not change the name, softened his stance a day after FedEx Corp, which owns the naming rights to the team's Landover, Maryland, stadium, called for the NFL club to be rebranded.
"There is no allegation in the charging documents that any Nike employee was aware of or knowingly participated in any bribery or kickback scheme," the company said.
Juventus coach Massimo Allegri says Cristiano Ronaldo is ready to play for the Serie A team against Udinese on Saturday.
Professional ballet dancer Misty Copeland, and wrestler turned-actor Dwayne 'The Rock' Johnson joined National Basketball Association star Stephen Curry in opposing comments made by the chief executive of their sponsor Under Armour supporting US President Donald Trump.
Trump, without offering evidence, said in a post on Twitter that the sportswear company was "getting absolutely killed with anger and boycotts."
World Cup sponsors are in an awkward position, experts said, because they are under pressure from consumers to distance themselves from any corruption, but such sponsorships are lucrative in the long term.
Maria Sharapova's reduced suspension for a doping violation is set to provide a healthy boost to her bank balance with corporate sponsors reaffirming their commitment to the Russian player. The 29-year-old can return to the court next April after the Court of Arbitration for Sport reduced her two-year ban by nine months on Tuesday. Sharapova's stunning admission in March that she had tested positive for meldonium at the Australian Open, and her subsequent ban by the International Tennis Federation, saw a number of sponsors distance themselves from her.
The Nike swoosh decorates the outfits of Brazil, France and England, the sides in the quarter-finals most favoured by betting websites to win the World Cup, plus Croatia.
A pregnant Serena Williams makes the tennis superstar even more attractive to corporate sponsors, allowing her to extend her reach into maternity wear and motherhood products, sponsorship industry executives said.
'At the end of the day, athletes are humans just like the rest of us.'
Summary of sports events and persons who made news on Wednesday
Gay and lesbian groups have called on voters in the Philippines to boycott boxing icon Manny Pacquiao as he bids for a Senate seat, after he described gays as 'worse than animals'.
One of Maria Sharapova's biggest sponsors, Nike Inc., said it was suspending ties while the case is being investigated.
Shares in the Beaverton, Oregon-based Nike Inc fell more than 2 percent after Kaepernick posted a black-and-white close-up of himself on Instagram on Monday featuring the Nike logo and "Just do it" slogan.
Nike has about 400 stores in India.
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