Nike Moves to Increase Share of Soccer Shoes

Nike Corp., which is trying to bolster its share of shoe sales to soccer players, has agreed to pay $120 million to sponsor the U.S. Soccer Federation for eight years. Nike will become the exclusive official supplier and sponsor of products for U.S. national teams through 2006. Nike will also become title sponsor of the annual U.S. Cup series and the U.S. Women’s Cup tournament. Nike said it will also sponsor four women’s soccer team tours vying for a place in the 1999 FIFA Women’s World Cup and the 2000 Summer Olympics in Sydney, Australia.