Nike, with an emphasis on innovation, global expansion, and player safety, extends its NFL partnership through 2038.

Following the National Football League's brief opening of the bidding process to rivals and discussions with other businesses, Nike has extended its agreement with the league for an additional ten years.

The agreement states that through 2038, Nike will be the only supplier of base layer, practice, and sideline clothing for all 32 NFL clubs. Since 2012, Nike has been the only clothing supplier to the NFL.

In a news release, Nike's recently hired CEO, Elliott Hill, stated that the relationship renewal is evidence of the effectiveness and strength of their cooperation with the NFL. They are dedicated to working together to co-create innovative solutions that support the league's growth and development efforts while satisfying the quickly evolving requirements of NFL players and fans as they start this new chapter.

Nike stated that as part of the collaboration, it will seek to increase football's worldwide presence and use its sports research lab to improve footwear safety and treat lower body problems.

According to the firm, it will keep supporting high school and collegiate football and work to make the "most compelling narratives in the sport come to life."

Nike has been a vital partner since 2012, and NFL Commissioner Roger Goodell stated in a statement that they are thrilled to have them on board for many more years to come. Nike is a strategic partner that will assist them expand football globally, support youth football, and enhance player safety in addition to their goods and services for their teams, players, or supporters.

The new collaboration comes as Nike aims to revive its company and maintain its position as the world's top manufacturer of sportswear and footwear.

Next Thursday, Nike is scheduled to release its fiscal second-quarter earnings.