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Nike Terminates Sponsorship Deal With Spartak Moscow: Reuters

By Shivani Kumaresan
  • Nike Inc (NYSE:NKE) has ended its sponsorship deal with Russian Premier League club Spartak Moscow, Reuters reported.
  • The move comes after UEFA, the governing body of European soccer, decided Russia will not have its team's club competitions in the 2022-23 season due to the invasion of Ukraine.
  • Spartak has been sponsored by Nike since 2005.
  • The Europa League last-16 matches between Spartak and RB Leipzig were called off in February after UEFA suspended all Russian clubs from its competitions.
  • Russia's Ukraine invasion has sparked calls for multinational corporations to shut operations in the country, along with a set of economic sanctions from western countries.
  • Price Action: NKE shares are trading higher by 4.16% at $112.39 on the last check Friday.
  • Photo Via Wikimedia Commons
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Dive Deeper:
Eurovision: With Russia excluded, Ukraine wins the political contest
Italy will host the final of the 66th Eurovision Song Contest on Saturday evening with one country notably absent: Russia…
In first since Ukraine invasion, Pentagon chief speaks with Russian counterpart
U.S. Defense Secretary Lloyd Austin called for an immediate ceasefire in Ukraine when he spoke by telephone to his Russian…
Why are Sweden and Finland not yet in Nato and does the alliance want them?
Analysis: the two countries are considering applying to join after Russia’s invasion of Ukraine
Ukraine accuses Russia of forcibly deporting over 210,000 children
Ukraine said on Friday Russia had forcibly deported more than 210,000 children since its invasion on Feb. 24 and accused…
One subscription that gives you access to news from hundreds of sites
Russia-Ukraine war: What happened today (May 12)
A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.
Lloyd Austin urges "immediate ceasefire" in call with Russia's defense minister
It was their first conversation since Russia launched its invasion of Ukraine.
Get all your news in one place