USOC signs sponsorship extension with Nike

BY foxsports • April 11, 2011

The U.S. Olympic Committee has extended its sponsorship deal with Nike, meaning American athletes will wear the swoosh on the medal stand through the 2016 Olympics.

The USOC has been partners with Nike since 2005, and the company also has apparel contracts with USA Basketball, USA Track and Field and a number of other sports.

It's another multimillion-dollar deal for the USOC, which has also recently signed with Citigroup and TD Ameritrade, as it restructures a sponsorship portfolio that was temporarily hurt by the bad economy after the Beijing Olympics.

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