National Football League owners will be presented with a proposal on Tuesday to award the league's apparel and sideline rights to Nike Inc., according to various news reports. Reebok has been the NFL's apparel licensing partner since 2001.
The five-year deal was first reported Monday afternoon by Sports Business Daily, and later confirmed by CNBC. Reebok reportedly paid $300 million for the 10-year rights that expire at the end of the 2011/2012 season.
Terms were not disclosed. Other bidders for the contract were Adidas, the owner of Reebok, and Under Armour.
Asked whether a deal is in place, a Nike official told CNBC: “We are involved with the NFL negotiations but can not comment on ongoing discussions.”
Adidas CEO Herbert Hainer had already told CNBC that he was prepared to accept defeat.
“We decided how much we were willing to pay,” Hainer said. “If somebody bids higher than us then we’ll accept that… So if we lose the NFL, it won’t make or break our company.”
New Era is expected to be announced as the official cap supplier, while Under Armour should continue as the apparel supplier of the league’s combine.
