According to the Sports Business Journal, Nike and the New York Yankees have agreed in principle to a five-year sponsorship agreement to begin in 2009, the teams first in the new Yankee Stadium. Adidas has been sponsoring the Yankees for the last 11 years in one of its most prominent sponsorships in the U.S.
According to the report, 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. The report did include terms of the deal.
