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Written by Maury Brown
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Monday, 19 May 2008 04:30 |
 Nike has agreed to a five-year sponsorship deal with the New York Yankees that will end adidas historic run with the club. The 10-year, $95 million deal that was reached 1997 between George Steinbrenner and adidas remains as a key moment in Yankee history as it was a tipping point in removing Steinbrenner MLB’s executive committee at the time. As reported by the Sports Business Journal: With the deal ending, sources said that the Yankees originally tried to sell Nike a signage package, but that Nike was more interested in other rights. Consequently, Nike’s deal with the Yankees is short on branding and long on marketing. Nike will be able to increase the amount of team apparel it already sells as an MLB licensee and it will have a store-within-store shop at the new stadium. It will also run local marketing campaigns, grassroots initiatives, and outfit Yankee coaches and minor leaguers with cleats and other performance wear. Nike is currently an MLB licensee and also has rights to use MLB marks in ads. The deal does not include MLB jersey rights, but does give Nike the ability to expand its apparel offerings. Nike already has most of the Yankees top stars signed to endorsement deals, including Alex Rodriguez, Derek Jeter, Jorge Posada and Mariano Rivera.
The historic adidas deal has been seen by many as a legitimizing move by German footwear and apparel manufacturer by making them a player in the New York and US market.
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