Nike parts ways with Kylian Mbappé; soccer superstar signs with On
Mbappe had been signed with Nike for roughly two decades, and his agreement with On is the first it has made with a soccer player.
TL;DR
- Kylian Mbappé has signed a new endorsement deal with On, a Swiss sportswear company.
- Nike chose not to renew its contract with Mbappé after nearly two decades.
- This marks On's first signing in football.
- On has named retired French star Thierry Henry as its director of football.
- Mbappé expressed his desire to build something new and push innovation with On.
- Nike stated they were proud of their achievements with Mbappé and wished him well.
- Analysts caution that football is an expensive category to enter and performance credibility cannot be bought.