Nike has suspended its relationship with Kyrie Irving and cancels his shoe deal following his recent controversy.
Earlier this week, the Brooklyn Nets announced Irving was suspended for five games without pay. A day later, Nike reported it was suspending its relationship with Irving effective immediately.
To make matters worse, Nike also shared the upcoming launch for his Kyrie 8 signature shoe was canceled.
Nike announced Friday that it has suspended its relationship with Nets guard Kyrie Irving and will no longer launch his new sneaker, the Kyrie 8. https://t.co/9oykQ3Mtxh
— ESPN (@espn) November 5, 2022
“At Nike, we believe there is no place for hate speech and we condemn any form of antisemitism,” Nike wrote in a statement. “To that end, we’ve made the decision to suspend our relationship with Kyrie Irving effective immediately and will no longer launch the Kyrie 8. We are deeply saddened and disappointed by the situation and its impact on everyone.”
Irving was already facing an estimated $2.2 million financial hit from his unpaid suspension but losing his Nike deal can increase the amount.
According to Sportico, Irving made $11 million from his Nike deal last year. Despite his deal being only a fraction of what other athletes are getting, Irving’s shoe has been one of the top 5 best selling signature shoes for the company.
In addition, Irving’s signature sneaker is the most popular shoes for NBA players to wear during games.