Dive Brief:

• Nike Inc. will continue to sponsor the United States Olympic Committee, providing footwear and apparel to Team USA at the 2018 and 2020 Olympic Games.

• The 2018 Olympic and Paralympic Winter Games will be held in Pyeongchang, South Korea, and the 2020 Olympic and Paralympic Summer Games will be in Tokyo. Nike also has a previous contract to outfit American athletes at the 2016 Olympic and Paralympic Summer Games in Rio De Janeiro.

• The deal means that Nike will provide the uniforms that will be worn by American athletes on the medal podiums. Nike also has separate deals with individual American teams, like track and field. 

Dive Insight:

Though the terms were not disclosed, this kind of sponsorship is not just lucrative in itself, but is also a branding coup like no other. After all, whenever an American athlete wins a medal and stands proudly on the podium, the Nike swoosh will be there.