Brooklyn Nets star Kyrie Irving has finally spoken out about losing his deal with Nike. NBA fans will be aware that Irving was suspended after posting a link to an alleged antisemitic documentary. This act was considered one condoning racial hatred and Irving was heavily scrutinized for it.
Despite fulfilling several criteria to rejoin his team and clear his name, Irving’s damaging actions have led to him no longer being a part of Nike and incurring potential financial losses. We should want to know more about what Kyrie stands to lose and why Nike has not renewed its deal with him. In order to do so, one needs to understand the financial aspects and context.
How much money did Nike pay Kyrie Irving per year?
According to the reports, Kyrie sponsoring Nike involved him being paid around $11 million per year from 2014 to 2023. This was for endorsing the brand and releasing new signature shoes. However, Nike has suspended and discarded all future deals with Kyrie. This means they have no willingness to be associated with the Nets star.
There is no real solid theory as to why Nike feels particularly offended by Irving’s actions. After all, even the Brooklyn Nets organization merely suspended him and did not terminate his contract. On the other hand, Nike had no problem in doing so. NBA insider Shams Charania sent out a tweet revealing that Nike had effectively terminated its relationship with Kyrie Irving.
“Kyrie Irving is no longer a Nike athlete, Nike spokesperson says. The sides have parted ways one month after Nike suspended its relationship with the Nets star. Irving has one of most popular signatures shoes in the NBA and is now a sneaker free agent.”
Kyrie Irving is no longer a Nike athlete, Nike spokesperson says. The sides have parted ways one month after Nike suspended its relationship with the Nets star. Irving has one of most popular signatures shoes in the NBA and is now a sneaker free agent.
— Shams Charania (@ShamsCharania) December 5, 2022
This news would surprise some people. However, Nike co-founder Phil Night shared how his organization always felt about this, “I would doubt that we go back. But I don’t know for sure. Kyrie stepped over the line. It’s kind of that simple. He made some statements that we just can’t abide by and that’s why we ended the relationship. And I was fine with that.”