Shares of Nike Inc. fell nearly three percent Tuesday after it disclosed that its latest ad campaign would feature controversial quarterback Colin Kaepernick, with some people posting photos and videos of ripped Nike socks and burned Nike sneakers.
Paul LaMonica of CNNMoney.com had the news:
Many people also wrote messages of support for Kaepernick, who famously took a knee during the National Anthem before NFL games in 2016. Kaepernick said it was to protest several high-profile shooting deaths of black people by police.
Kaepernick remains unsigned and hasn’t played since 2016, but he started a movement that has polarized Americans. President Donald Trump has been critical of players for the protests.
One analyst expressed concerns about Nike’s ties with Kaepernick.
“Nike’s campaign will generate both attention and discussion which is, arguably, one of its central aims,” wrote Neil Saunders, managing director of GlobalData Retail, in a report Tuesday. “However, it is also a risky strategy in that it addresses, and appears to take sides on, a highly politicized issue.”
Kevin Draper and Ken Belson of The New York Times reported that Nike will introduce Kaepernick apparel:
Nike will produce new Kaepernick apparel, including a shoe and a T-shirt, and if the merchandise sells well, the value of the deal will rival those of other top N.F.L. players, according to people close to the negotiations who spoke on condition of anonymity because Nike had not formally announced it. Nike will also donate money to Kaepernick’s “Know Your Rights” campaign.
The N.F.L. did not immediately respond to requests for comment. The ad and the campaign, coming a few days before the start of the N.F.L. season on Thursday, is likely to annoy the league’s top executives and its owners. On Thursday, Kaepernick won a victory in his grievance against the league when an arbitrator let his case, in which he accuses the league of conspiring to keep him off the field because of his activism, advance.
A wave of on-field protests has continued, with varying degrees of intensity, since summer 2016, when Kaepernick began kneeling during the playing of the national anthem.
Now, with just one tweet, the former N.F.L. quarterback and Nike have set the world alight, causing a flurry of stories in major publications, inspiring a top trending hashtag across social media and possibly even contributing to a broader decline in the stock market.
Jessica Schladebeck and Brian Niemietz of the New York Daily News reported that the NFL defended the ad campaign:
Kaepernick last played in the NFL in 2016 when he began kneeling during the national anthem to protest police brutality against minorities. The former San Francisco 49ers quarterback, still a free agent, has since been joined by dozens of other players across the sport and beyond, making him a figure of both inspiration and outrage.
This latest controversy won’t ease matters for the NFL. The league in March announced an extension of its apparel deal with Nike that will keep the brand supplying all 32 teams with game-day uniform and sideline apparel through 2028.
The NFL, which starts its season with a Thursday night game between the Atlanta Falcons and Philadelphia Eagles, defended Nike’s move.
“The National Football League believes in dialogue, understanding and unity,” reads a statement from The NFL’s Executive Vice President of Communications and Public Affairs Jocelyn Moore. “The social justice issues that Colin and other professional athletes have raised deserve our attention and actions.”
