Odell Beckham Jr. Files $20 Million Lawsuit Against Nike Over Breach Of Contract
Free agent wide receiver Odell Beckham Jr. has filed a lawsuit against Nike stemming from his final endorsement contract that he had signed with the apparel company. Beckham is alleging that the company owes him more than $20 million related to the endorsement deal.
Monday night, Beckham released a statement, saying that Nike "did not honor its commitments," while he noted that he has kept his end of the deal.
"I am extremely disappointed that I've had to take these measures to ensure Nike fulfills their obligations and promises," Beckham said in a statement. "Today, I'm taking a stand not just for me, but to set a precedent for all athletes who have dedicated their life to the sport they love � especially those who don't have the means to stand up for themselves. We are held responsible for fulfilling our obligations under our contracts, but we also have to hold powerful companies like Nike accountable for honoring their commitments too."
Beckham noted in his statement that he neared an offer with Adidas, but Nike exercised the right of first refusal and made him a Brand Icon to keep him with Nike. According to SoleCollector's Brendan Dunne, the Adidas deal was worth up to $47 million in guaranteed extensions with a base salary between $3.2 and $4.2 million.
