The Power of Nike's Marketing Department
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A couple of weeks ago, NBA rookie Zion Williamson signed with Nike's (NYSE: NKE) Jordan shoe brand. At $75 million, the Williamson partnership is one of Nike's biggest, surpassing the $55 million sponsorship agreement with Serena Williams back in 2003 -- even if it pales in comparison to Tiger Woods' 2013 deal with the company, estimated to be worth $200 million. Meanwhile, Nike's LeBron James deal is expected to earn the basketball player more than $1 billion by the time he hits retirement age.
The contract between Nike and Williamson might at first look like your typical sponsorship of a star athlete by an apparel company, but in fact, things are more complicated than that. This is because Williamson's history with Nike is interesting, to say the least.
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