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Nike secures exclusive deal with NBA, WNBA and NBA D-League

Yesterday, Nike signed an exclusive deal with the NBA, WNBA and NBA D-League. The deal is worth $1 billion, according to multiple reports.

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Kirby Lee-USA TODAY Sports

Yesterday, Nike announced that they have established an eight-year exclusive partnership with the NBA, WNBA and NBA D-LEAGUE. The deal is worth $1 billion, according to multiple reports.

This will end an 11-year partnership that the NBA has had with Adidas, which is set to expire after the 2016-17 season. Nike will be the exclusive on-court apparel and uniform source for the WNBA. Here is part of the release from Nike:

"This partnership with NIKE represents a new paradigm in the structure of our global merchandising business," said NBA Commissioner Adam Silver. "As our exclusive oncourt apparel provider, NIKE will be instrumental in our collective efforts to grow the game globally while applying the latest in technology to the design of our uniforms and oncourt products."

NIKE has a rich history of innovating and leading from the front, and has supported some of the greatest former and current NBA and WNBA players. The company has been a global marketing partner of the NBA since 1992 and expands its rights over eight years under the new agreement, where NIKE will become the first NBA apparel partner to have its logo appear on NBA uniforms. NIKE will also have the global rights to design and manufacture authentic and Swingman jerseys as well as oncourt warm-ups and shooting shirts.

"We're excited to bring the full power of our global reach, innovation and creativity to partner with the NBA and grow the game in a way only NIKE can," said NIKE, Inc. President & CEO Mark Parker. "In NIKE, Jordan and Converse we have three of the most connected brands in the world, and look forward to making the global growth of the game a successful strategy for both the NBA and NIKE."

Nike has been a marketing partner with the WNBA since it's first year, 1997. And more often than not, the top draft picks in the WNBA usually sign with Nike coming out of college.