🏟️ Nike’s Game Plan for the Future

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Happy Friday!

Welcome to this week’s edition of Sports Industry Weekly as we share insights from the top business headlines from across the sports industry.

Let’s jump right into it…

Nike’s Next Play: A Clear Vision Forward

Nike’s new CEO, Elliott Hill, shared an in-depth breakdown of his vision for the future of the company with Fortune Magazine, and we’re summarizing it for you here:

Elliott Hill wasted no time getting to work, holding an all-employee meeting on his first day to re-engage with the Nike team.

His vision is clear: Nike will “put sport back at the center of everything we do,” leading with athletes and performance innovation.

He plans to repair strained relationships with retail partners while refining Nike’s consumer marketplace strategy to provide a seamless shopping experience while maximizing reach.

Nike will focus its efforts on five core categories—running, basketball, training, football, and sportswear—while sharpening its strategy in key global markets.

Athletes will drive Nike’s product innovation, with Hill meeting with league commissioners, teams, and stars like Michael Jordan, Ronaldo, and A’ja Wilson.

Women’s sports will be a major growth area, including the launch of Caitlin Clark’s signature sneaker.

Nike will also reinvest in brand storytelling to forge deeper connections with consumers during major sports moments.

Innovation will be fueled by athlete insights, ensuring products that help them run faster, jump higher, and perform at their peak.

Hill acknowledges short-term challenges but is taking a long-term approach to reestablish Nike’s dominance.

With experience, clarity, and an athlete-first mindset, Hill is ready to lead Nike into its next era.

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🏀 Caitlin Clark's final season with Iowa Women's Basketball set a record with $3.26 million in ticket sales for 2023-2024, surpassing UConn WBB. Clark also confirmed she will not join this year’s NBA 3-Point Contest at All-Star Weekend.

📊 The Boston Celtics, Los Angeles Lakers, and New York Knicks top the NBA's best-selling team merchandise list, while Stephen Curry, LeBron James, and Jayson Tatum lead the NBA's best-selling jerseys list.

🌴 California Governor Gavin Newsom appointed NBA legend Magic Johnson, Dodgers chairman Mark Walter, and 2028 Olympics organizer Casey Wasserman to lead a new wildfire recovery initiative in Los Angeles, with up to $100 million pledged by the Mark Walter Family Foundation and the Los Angeles Dodgers Foundation.

💰 Fanatics reached $8.1 billion in revenue in 2024, up 15% from the previous year, driven by the company’s expansion into retail, betting, and collectibles.

⚽️ The average Major League Soccer franchise is valued at $719 million, with Los Angeles FC and Inter Miami CF leading the way.

⚾️ CC Sabathia announces "Vallejo," a new film about his journey to becoming a World Series champion and Yankees legend, following his induction into the National Baseball Hall of Fame with 86.8% of the vote.

🚫 Vanderbilt has a fan court and field-storming issue, as the university was recently fined $100,000 for their football win over Alabama, $250,000 for their basketball win over Tennessee, and a $500,000 fine for their win over Kentucky.

👟 Air Jordan dominated GOAT’s Top 10 Most Wanted Sneakers of 2024, claiming 8 spots—6 of which were Air Jordan 4s. Asics and Nike completed the list.

📈 The Chiefs vs. Bills on CBS set a new AFC Championship viewership record (57.4 million), and Eagles-Commanders became Fox’s most-watched NFL game since last season (44.2 million). Will the upcoming Super Bowl rematch break viewership records?

🥊 Jake Paul and Logan Paul are set to fight each other or premiere a reality show; either way, it’ll debut on March 27th, only on Max.

📖 Candace Parker announced her new book, "The Can-Do Mindset," which will be released on June 3rd. It shares her recipe for resilience, passion, and success, drawing from her personal and professional journey.

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