USA: Nike Reaffirms Existing Principles in College Partnerships
Nike Inc. (NYSE: NKE) reemphasized its well-established principles in its college partnerships that has resulted in the termination of negotiations on the renewal of a six-year, all-sport and apparel licensing agreement with the University of Michigan. If signed, the U-M contract would have represented Nike's largest and most highly valued agreement in college sports to date.The partnership would have provided funding and Nike footwear, apparel and equipment to all 25 men's and women's varsity athletic teams and recreational sports programs through August 2006."It has been a great run with Michigan. However, we must continually evaluate certain partnerships from a relationship perspective," said Kit Morris, Nike's director of college sports marketing. "Our priorities have always included seeking compatible partners that share common beliefs in areas such as athletics, academics, licensing and business practices."
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