Nike suspends ties with Kyrie Irving

WHAT YOU NEED TO KNOW:

• Nike has suspended its business ties with Kyrie Irving after the Nets’ guard promoted an antisemitic film.
• The shoe giant has been producing a signature line with Irving since 2014.
• In a statement, Nike said “there is no place for hate speech and we condemn any form of antisemitism.”

Nike announced on Friday that it is suspending its relationship with NBA superstar Kyrie Irving after the Brooklyn Nets guard promoted an anti-Semitic documentary.

On Thursday, Irving has been suspended by the Nets for a repeated failure to “unequivocally say he has no antisemitic beliefs.”

“At Nike, we believe there is no place for hate speech and we condemn any form of antisemitism,” Nike said 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,” the Beaverton, Oregon-based company said.

Irving, who was the No. 1 pick in the NBA draft in 2011, signed with Nike the same year. In 2014, his first signature shoe was released, and has been Nike’s most popular signature line. Irving has been reported making $11 million annually just from the Nike endorsement.

The Kyrie 8 was supposed to be released in the next week. Previous models of his signature line were still for sale on the Nike website.

The Nets suspended Irving for at least five games after posting a link to the documentary “Hebrews to Negroes: Wake Up Black America” — a documentary containing antisemitic material. NBA Commissioner Adam Silver demanded an apology from Irving who defended his right to post what he wants.

Irving apologized via Instagram for not explaining the specific beliefs he agreed and disagreed with when he posted the documentary.

The NBA star becomes the second famous celebrity to lose a major shoe deal over antisemitism. In late October, Adidas dropped ties with Ye, formerly known as Kanye West. The company said stopping production of its line of Yeezy products would result in about $250 million in losses this year.

Source: Reuters