Odell Beckham Jr. files lawsuit against Nike claiming the loss of millions
Adidas offered Beckham a $47 million deal, according to the lawsuit
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Odell Beckham Jr. has filed a lawsuit against Nike on Monday claiming the athletic footwear and apparel company failed to "honor its commitments" in their latest deal, resulting in the loss of more than $20 million.
The lawsuit, obtained by TMZ Sports, alleged that the issue arose in 2017 when Beckham’s previous contract was nearing expiration, at which point the Super Bowl champion had considered making the jump to Adidas.
Odell Beckham Jr. #3 of the Los Angeles Rams speaks to the media during a practice for Super Bowl LVI at at California Lutheran University on February 11, 2022 in Thousand Oaks, California. (Kevork Djansezian/Getty Images / Getty Images)
"When Nike exercised its right of first refusal to match the Adidas offer and not only kept me as a Nike Athlete, but also made me one of their Brand Icons — my dream had been fulfilled," Beckham said in a statement, also obtained by the outlet.
But the free agent claimed that the deal wasn’t the same and the new contract reportedly made it "nearly impossible for him to trigger very valuable extensions of the deal."
"Unfortunately, Nike did not honor its commitments. Throughout our partnership, I have kept my promise and fulfilled my obligations to the brand. I am extremely disappointed that I’ve had to take these measures to ensure Nike fulfills their obligations and promises," Beckham’s statement continued.
Odell Beckham Jr. #3 of the Los Angeles Rams reacts during the NFC Championship NFL football game against the San Francisco 49ers at SoFi Stadium on January 30, 2022 in Inglewood, California. The Rams won 20-17 to advance to the Super Bowl. (Michael Owens/Getty Images / Getty Images)
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According to Complex, the lawsuit states that Beckham’s first deal with Nike, signed in 2014, was a three-year deal worth $45 million and gave Nike the right to match any offer at the end of his contract. The deal offered by Adidas in 2017 was worth up to $47 million in guaranteed extensions.
The lawsuit also claims that in March Nike withheld more than $2 million of a payment because of equipment violations, TMZ Sports reported.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NKE | NIKE INC. | 80.83 | -0.19 | -0.23% |
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"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’s statement read.
Odell Beckham Jr. of the Rams with the Vince Lombarbi Trophy during an NFL game between the Los Angeles Rams and the Buffalo Bills on September 08, 2022, at SoFi Stadium in Inglewood, CA. (Icon Sportswire / Getty Images)
"I look forward to resolving this issue and hope we can start a real conversation about protecting athletes and their rights. This happens too often in the sports industry and it’s time for change."
Nike did not immediately respond to FOX Business’ request for comment.