Nike, NFL Quarterback Settle Contract Dispute

Minnesota Vikings quarterback Daunte Culpepper and Nike Inc. announced a settlement in a lawsuit filed by the maker of sports apparel.

As part of the settlement, Culpepper will continue to endorse, wear and use Nike products throughout the National Football League season. Further terms were not released.

Nike filed the lawsuit in June to contest Culpepper’s signing an endorsement contract with rival Reebok International Ltd. Culpepper was planning to sign a long-term contract and appear in a television commercial for Reebok, but Nike exercised its right of first refusal and matched Reebok’s offer to Culpepper.

Culpepper did not think Nike’s offer matched Reebok’s, leading to the dispute.