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Bill Bowerman And Phil Knight's Blue Ribbon Sports

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Bill Bowerman And Phil Knight's Blue Ribbon Sports
On January 25, 1964, Bill Bowerman and Phil Knight founded “Blue Ribbon Sports.” Mr. Bowerman and Mr. Knight officially changed the name of their company “Blue Ribbon Sports”, to Nike, Inc. on May 30, 1971. It started out as the two of them selling running shoes from a Japanese manufacturer out of the back of their van. They would park their van outside of track meets and try to sell their running shoes to the athletes. Nike is now headquartered in Beaverton, Oregon. To think that Nike came all the way from selling running shoes out of a van shows how far they have come as a company. This shows what Nike’s effective marketing and advertising strategies, quality products, and successful financial plan was able to let them do throughout …show more content…
According to Business Insights, “Nike is reported to have paid $1.5 billion for its five year licensing contract with the NFL; we assume that covers the guarantee they've made to the NFL over the term of the contract, as well as promotional and other rights.’’ This contract that they signed with the NFL is valued so high because the NFL is one of the most watched sports in the United States; “It is probably safe to say that there is no other sports entity like it in the entire world, as hundreds of millions of televisions are tuned into the NFL's championship game - the Super Bowl - every year’’. Due to the NFL’s massive TV ratings, Nike has great exposure of their products. Everyone will see the Nike swoosh on all of their jerseys. Nike also sells its products to sporting goods stores (Ex. Dick’s, Models), department stores, athletic specialty stores, footwear stores, internet websites, Nike-owned retail stores. Nike as a whole is seen as a company that is dedicated to being connected to the biggest and best athletes within each sport. As seen in their financial statements, Nike is a very profitable and appealing company for investors to look into. As a whole, Nike is a very strong and stable company which will provide anyone with tremendous return on
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