Nike is close to securing a long-term NBA uniform rights deal. Sources said the framework for a deal has been reached, the outline of which will be presented to ownership today in N.Y. during a meeting of the Exec Committee and tomorrow before the full NBA BOG. Multiple sources said that while the two sides have an agreement in principle, they are still some distance from a signed deal. However, Nike’s new on-court rights will not begin for more than another two years. Nike and the NBA still have “a million I’s to dot and T’s to cross,” said a senior industry source, “but it’s at that stage, as opposed to getting to the right number.”
The new deal will take effect in time for the ’17-18 NBA season, after the rights held by 11-year incumbent uniform rights-holder adidas expire. After adidas dropped out, the NBA said it hoped to announce a new uniform deal this spring. adidas’ current agreement is valued at $400M over 11 years, and a Nike deal is certainly expected to surpass that in value.