MBAPPÉ LEAVES NIKE FOR ON — AND TAKES EQUITY AS THE BRAND ENTERS FOOTBALL

By ASVG Media

Kylian Mbappé has ended a relationship with Nike that began when he was a child and signed with Swiss sportswear challenger On in a landmark athlete-business agreement containing both cash and equity components. On is using one of football’s biggest global stars to spearhead its entry into the world’s largest sport, with its first football boots planned for 2027. The Roger Federer-backed company has also recruited Thierry Henry as Director of Football. Financial terms were not disclosed.

The deal is commercially significant because Mbappé is becoming more than an endorser: equity connects the athlete directly to the future value he helps create. On is effectively betting that star power, product innovation and athlete ownership can help it challenge Nike, Adidas and Puma in football after establishing itself in running and tennis. That model deserves close attention across Africa and its diaspora. Elite African athletes increasingly have the leverage to negotiate ownership, revenue participation and product collaboration rather than simply accepting endorsement fees. The next generation of athlete wealth may come from owning part of the brands and businesses athletes help build.