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Nike CDR (CAD Hedged)
Symbol NKE
Shares Issued 500,000
Close 2023-07-17 C$ 20.68
Market Cap C$ 10,340,000
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Globe says Nike pulls out of Hockey Canada for good

2023-07-17 08:07 ET - In the News

The Globe and Mail reports in its Monday edition that Nike has permanently ended its sponsorship of Hockey Canada, finalizing an earlier pause of its marketing support and dealing a financial blow to the organization as it continues to experience the fallout from a sexual-assault scandal last year. The Globe's Susan Krashinsky Robertson writes that Nike had been a premier marketing partner of Hockey Canada -- its top tier of sponsors that also includes Imperial Oil's Esso, Telus and Tim Hortons, which have all paused support of the organization since last summer. The shift marks the end of a more than two-decade sponsorship that began in 1999, according to Hockey Canada's website. Like many other sponsors, Nike paused its support of Hockey Canada last year amid a backlash over how the organization handled allegations of sexual assault. Nike was the last premier marketing partner to suspend its relationship in October, 2022. In a statement to The Globe, Nike confirmed that it is no longer a sponsor. Spokesmen for Nike and Hockey Canada both declined to answer questions about when the relationship ended, or the reason for the change. Earlier this month Bauer Hockey reinstated its partnership with Hockey Canada.

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