Nike has ended its long-standing endorsement deal with Kylian Mbappé, marking a major shift in the sportswear giant's soccer portfolio. The Paris-born superstar, who has worn the swoosh for approximately two decades, has signed with Swiss athletic brand On Running. This move represents the first soccer-specific endorsement On has secured in its history.
The departure signals a strategic recalibration at Nike, which has historically dominated soccer sponsorships through deals with elite players. Mbappé's exit arrives during a period when the athlete commands global attention following his summer transfer to Real Madrid. The move amplifies On's aggressive expansion into soccer markets and challenges Nike's traditional stronghold in the sport.
On Running, founded in 2010 by three Swiss entrepreneurs, has built momentum in performance footwear and apparel through investments in running technology and athlete partnerships. The brand has gradually expanded beyond running into broader athletic categories. Securing Mbappé represents a watershed moment. At 25 years old, Mbappé ranks among soccer's most marketable players, with a combined social media following exceeding 100 million across platforms. His recent transfer to Real Madrid further elevated his profile heading into the 2024-2025 season.
The timing matters. Nike faces mounting pressure from rivals like Adidas and newer challengers like On to capture soccer's lucrative endorsement market. Soccer generates roughly $5 billion annually in global sponsorship revenue. Mbappé's switch to On demonstrates that legacy relationships, even those spanning decades, remain vulnerable when challengers offer compelling partnerships and visibility opportunities.
For Nike, the loss underscores evolving dynamics in athlete endorsements. The company has faced criticism over compensation structures and creative control in some endorsement agreements. On apparently offered Mbappé terms that proved more attractive, whether through financial guarantees, equity stakes, or creative autonomy. Such arrangements have become standard among premium athlete endorsements as players leverage personal brands and direct-to-consumer opportunities.
The deal also reflects On's confidence in its financial position. The company went public on the New York Stock Exchange in September 2021, raising roughly $680 million. Since then, it has aggressively pursued sports marketing partnerships and technology investments. Signing Mbappé represents a bold statement of ambition in a crowded marketplace where incumbents like Nike and Adidas possess deeper resources and longer institutional histories in soccer.
For Real Madrid fans and soccer viewers broadly, the shift proves largely immaterial. Mbappé will wear On gear during match appearances, training sessions, and brand activations. The endorsement carries no impact on his on-field performance or eligibility to compete.
What changes next hinges on whether other elite soccer players follow Mbappé's path away from Nike. If additional marquee names sign with On or other challengers, Nike's soccer dominance faces genuine structural threat. Conversely, Nike may respond with higher-value offers to retain remaining star talent or accelerate recruitment of emerging young players before competitors establish footholds. The soccer sponsorship landscape has entered a new competitive phase.