Nike stock drops by 2% in wake of Kaepernick deal

Colin Kaepernick is suing the NFL having not played since 2017

Colin Kaepernick is suing the NFL having not played since 2017

Though Kaepernick is still a man without a team, his endorsement contract with Nike is extended into a new multiyear deal, according to a person familiar with the negotiations, the Wall Street Journal reported.

Last night Nike unveiled a polarizing new ad as part of its 30th anniversary "Just Do It" campaign, which features free agent quarterback Colin Kaepernick along with the caption, "Believe in something".

Kaepernick will be one of the faces of Nike's 30th anniversary commemoration of its iconic "Just Do It" slogan.

Other athletes featured in the ad campaign include New York Giants wide receiver Odell Beckham Jr., skateboarder Lacey Baker and Seattle Seahawks linebacker Shaquem Griffin, who is an amputee with one hand.

"Believe in something", the advertisement reads in white letters in front of a black-and-white portrait of Kaepernick. However, those who disapprove of Kaep's "take a knee" stance and Nike's decision to use him in their campaign are taking their disdain to extreme lengths. "Even if it means sacrificing everything", Nike consumers began slashing their swooshes and setting fire to their sneakers.

Nike is in a fierce battle with rival Adidas AG to sign star athletes. The quarterback has also filed a grievance against the National Football League, alleging that owners have purposefully denied him employment.

Kaepernick's tweet has been retweeted more than 200,00 times.

Two tropical storms forming in eastern Pacific
Meanwhile, Tropical Storm Miriam churned over the eastern Pacific with maximum winds of 60 miles per hour . The center of the storm is located 1,105 miles ESE of HIlo at 14.2 N 139.4 W, moving west at 12 mph.

Kaepernick's attorney, Mark Geragos, made the announcement on Twitter, calling the former San Francisco 49ers quarterback an "All American Icon" and crediting attorney Ben Meiselas for getting the deal done.

The image immediately drew the ire of those who view Kaepernick - and others who joined him in protest - as selfish millionaires who disrespect America. That case cleared a hurdle last week with the league's request to dismiss the grievance was rejected.

Others have suggested that if people burning their Nike merchandise really cared about supporting veterans and felt that Kaepernick's protests, and Nike's partnership by extension, insulted veterans and the military, then they would have donated their goods to a charity that supports veterans, instead of making an ashen gesture.

Kaepernick's protests of racial injustice launched a movement across the NFL.

However, many interpret his actions, which have subsequently been copied by dozens of other National Football League players and sports stars in different disciplines, as a lack of respect to the country's flag as well as servicemen and women.

Nike is a corporate sponsor with the NFL. "Colin is not now employed by an NFL team and has no contractual obligations to the NFL", Nike spokesperson Sandra Carreon-John said.

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