Nike is taking over the NBA
In an announcement on Wednesday, Nike and the NBA announced that the athletic apparel company would become the exclusive provider of on-court gear for the professional basketball league.
Nike will also be the on-court gear partner for the WNBA and the NBA D-League.
The deal starts with the 2017-18 season. Currently, adidas provides uniforms for the NBA.
In a release, Nike said it will become the first NBA apparel partner to have its logo appear on NBA uniforms.
The company will also have the global rights to design and manufacture authentic and Swingman jerseys as well as on-court warm-ups and shooting shirts.
This marks the second major sports league uniform deal for in the last couple years for the company, with Nike taking over the uniform rights for the NFL effective with the start of the 2012 season.
Nike shares gained 1.9% on Wednesday and the stock is up about 35% over the last year.