Nike Inc. (NKE) Suspends Michael Vick's Contract
Saying it's "concerned" by the dogfighting charges against Atlanta Falcons quarterback Michael Vick, Nike Inc. said Friday it has suspended Vick's endorsement contract without pay and will not sell any more Vick merchandise at its own stores for the time being.
"As we've said before, Nike is concerned by the serious and highly disturbing allegations made against Michael Vick and we consider any cruelty to animals inhumane and abhorrent," the company said in a statement. "However, we do believe that Michael Vick should be afforded the same due process as any citizen in the United States, therefore, we have not terminated our relationship."
A full 81 percent of Business Journal readers said in a survey this week that Nike (NYSE: NKE - News), which is based near Beaverton, should terminate its relationship with Vick completely. The quarterback, who recently signed a $130 million 10-year contract with the Falcons, pled not guilty yesterday to the charges that he and four others operated an illegal dogfighting operation in Virginia.
The Reebok company earlier Friday said it would nt sell any more Vick jerseys.
Published July 27, 2007 by the Portland Business Journal
"As we've said before, Nike is concerned by the serious and highly disturbing allegations made against Michael Vick and we consider any cruelty to animals inhumane and abhorrent," the company said in a statement. "However, we do believe that Michael Vick should be afforded the same due process as any citizen in the United States, therefore, we have not terminated our relationship."
A full 81 percent of Business Journal readers said in a survey this week that Nike (NYSE: NKE - News), which is based near Beaverton, should terminate its relationship with Vick completely. The quarterback, who recently signed a $130 million 10-year contract with the Falcons, pled not guilty yesterday to the charges that he and four others operated an illegal dogfighting operation in Virginia.
The Reebok company earlier Friday said it would nt sell any more Vick jerseys.
Published July 27, 2007 by the Portland Business Journal
Labels: Michael Vick, Nike Inc., NKE
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