As per reports, NIKE, Inc. (NKE) has terminated its sponsorship deal with Russian Premier League club Spartak Moscow as the team will not be taking part in European competitions next season. The governing body of European soccer, UEFA informed Russia will have no affiliated teams participating in its club competitions for 2022-23 season due to country’s military intrusion in Ukraine.
Nike was sponsoring Spartak since 2005 and is looking for a new equipment supplier after Nike withdrew from sponsoring the club.
Nike informed Spartak that it would no longer be the club’s kit sponsor “given UEFA’s decision to suspend all Russian clubs from UEFA competition.”
NIKE, Inc. (NKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon-based company offers products for a wide variety of sports and fitness activities. To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.
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