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Nike Terminates Sponsorship Deal With Russian Premier League Club Spartak Moscow – $NKE $DIA

By John F. Heerdink, Jr.

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.

 
 
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
 
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(Read Original Story: UPDATE 1-Soccer-Nike ends sponsorship deal with Spartak Moscow in Reuters)


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