Nike, Inc. has signed on as an official sponsor of the 2006 and 2008 U.S. Olympic and Paralympic Teams, replacing rival Adidas-Solomon. Nike joins 60 others, whose sponsorship and licensing fees currently total $405 million, the U.S. Olympic Committee said.

The Adidas-Solomon deal will expire after the 2004 summer games in Athens, Greece.

As part of the Nike deal, which begins in January 2005 and ends at the end of 2008, Nike will provide the podium uniforms worn during medal ceremonies. It will also outfit athletes for about half of the National Governing Bodies (which govern individual sports) including existing partnerships with USA Track & Field, U.S. Soccer and U.S. Speedskating.

Nike will have access to U.S. Olympic marks and graphics for use in advertising and marketing and for display on its extended line of brands such as Converse. It will also partner with the Committee in a multi-million dollar licensing agreement to produce merchandise ranging from footwear to apparel.

“It really opens the door for Nike to really play up its involvement in sports at the highest level,” said USOC spokesperson Cheryl Herbert.

Over the last 12 months the USOC has renewed or signed new sponsors for the 2006 to 2008 time frame, but has yet to sign a sponsor for its top partner level.

24 Hour Fitness and Jet Set Sports join Nike as first-time sponsors; Home Depot and Roots apparel marketer have renewed. Other sponsors include General Motors, Anheiser-Bush, Allstate, VISA, Coca-Cola and Monster.com.

Nike, Inc. has signed on as an official sponsor of the 2006 and 2008 U.S. Olympic and Paralympic Teams, replacing rival Adidas-Solomon. Nike joins 60 others, whose sponsorship and licensing fees currently total $405 million, the U.S. Olympic Committee said.

The Adidas-Solomon deal will expire after the 2004 summer games in Athens, Greece.

As part of the Nike deal, which begins in January 2005 and ends at the end of 2008, Nike will provide the podium uniforms worn during medal ceremonies. It will also outfit athletes for about half of the National Governing Bodies (which govern individual sports) including existing partnerships with USA Track & Field, U.S. Soccer and U.S. Speedskating.

Nike will have access to U.S. Olympic marks and graphics for use in advertising and marketing and for display on its extended line of brands such as Converse. It will also partner with the Committee in a multi-million dollar licensing agreement to produce merchandise ranging from footwear to apparel.

“It really opens the door for Nike to really play up its involvement in sports at the highest level,” said USOC spokesperson Cheryl Herbert.

Over the last 12 months the USOC has renewed or signed new sponsors for the 2006 to 2008 time frame, but has yet to sign a sponsor for its top partner level.

24 Hour Fitness and Jet Set Sports join Nike as first-time sponsors; Home Depot and Roots apparel marketer have renewed. Other sponsors include General Motors, Anheiser-Bush, Allstate, VISA, Coca-Cola and Monster.com.