Sports
Nike Lost $3.75 Billion in Market Cap After Kaepernick Deal
Nike stock shares and market capitalization plummeted significantly on Tuesday after the athletic titan announced that a controversial former NFL player would be the face of its main advertising campaign.
“Nike just lost about $3.75 billion in market cap after announcing free agent NFL quarterback Colin Kaepernick as the new face of its ‘Just Do It’ ad campaign,” according to The Wrap. “It’s the 30th anniversary of the iconic TV and print spots.”
Market capitalization is the value of the shares of a company’s outstanding shares.
“At the time of this writing, the sneaker company’s intra-day market capitalization was $127.82 billion, The Wrap said. “On Friday, that number had been $131.57 billion.”
Shares of Nike stock plummeted nearly 4% Tuesday morning before stabilizing throughout the afternoon.
Kaepernick is at the center of a heated debate regarding respect for the National Anthem. He started a movement of kneeling during the Anthem in 2016 which he says is to raise awareness about maltreatment of black Americans by police. Several players joined Kaepernick in the protest, and some are still kneeling for the Anthem at the beginning of the 2018 NFL season.
The free agent quarterback, who opted out of his contract with the San Francisco 49ers in August of 2016 and has been jobless ever since, announced his lead role as Nike marketer with a Twitter post on Monday.
“Believe in something, even if it means sacrificing everything. #JustDoIt,” he wrote.
Believe in something, even if it means sacrificing everything. #JustDoIt pic.twitter.com/SRWkMIDdaO
— Colin Kaepernick (@Kaepernick7) September 3, 2018
Both the protest and the new Nike campaign have drawn stark criticism.
“Shame on @Nike for elevating @Kaepernick7 to be its face; the bum was good for 1 season. Conservatives buy sneakers too. Support @newbalance @underarmour or @reebok instead. #boycottNike #IStand,” said congressional candidate Antonio Sabato Jr.
Shame on @Nike for elevating @Kaepernick7 to be its face; the bum was good for 1 season. Conservatives buy sneakers too. Support @newbalance @underarmour or @reebok instead. #boycottNike #IStand
— Antonio Sabáto Jr 🇺🇸 (@AntonioSabatoJr) September 4, 2018
“Rosa Parks should have had a better agent. #Kaepernick,” said conservative commentator Larry Elder.
Rosa Parks should have had a better agent.#Kaepernick pic.twitter.com/pvzEw8stKs
— Larry Elder (@larryelder) September 4, 2018
Nike’s competition had a much better day on the market.
“Rivals Adidas (ADDDF) and Under Armour (UA) are thriving, too,” according to CNN Money. “Adidas shares are up more than 20% while Under Armour’s (UAA) stock has gained more than 40%.”
Follow Peter D’Abrosca on Twitter: @pdabrosca
Sports
“That Stuff Ain’t Happenin’ with [a] Kamala-Biden Ticket”: Fox Sports Broadcasters Joe Buck and Troy Aikman Mock Military Jet Flyovers on Hot Mic
The top NFL broadcast duo at Fox Sports, Joe Buck and former Dallas Cowboys quarterback Troy Aikman, mocked military jet flyovers on a hot mic during Sunday’s game between the Green Bay Packers and Tampa Bay Buccaneers.
Aikman started it all by saying, “That’s a lot of jet fuel just to do a little flyover.”
“That’s your hard-earned money and your tax dollars at work!” Buck responded sarcastically.
The most notable and outrageous moment came when Aikman then quipped, “That stuff ain’t happenin’ with [a] Kamala-Biden ticket. I’ll tell you that right now, partner.”
Troy Aikman and Joe Buck were caught on a hot mic mocking military jet flyovers during football games.
take our poll - story continues belowCompleting this poll grants you access to Big League Politics updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.Aikman GLEEFULLY talked about how Joe Biden and Kamala Harris will end them. This is disgusting. pic.twitter.com/sCChJAm1TN
— David Hookstead (@dhookstead) October 20, 2020
How embarrassing and disgraceful. The NFL has already lost many conservative fans over its aggressively pro-social justice, pro-Black Lives Matter stance, so I guess it’s no surprise that its commentators and broadcasters would be liberal as well.
Many on social media are reacting to the Buck/Aikman hot mic by saying that the flyovers are a waste of money and that there’s nothing wrong with what they said. Aside from the fact that these flyovers are legitimate training exercises, none of them are focusing on Aikman’s last comment about the “Kamala-Biden ticket” (which is in the wrong order, if you didn’t already notice). He’s implying that flyovers honoring the military are nothing more than a partisan display that Democrats would prefer not to see. That’s shameful.
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