Odell Beckham Jr. sued Nike on Monday, claiming the athletic footwear company did not “honor its commitments” resulting in the loss of more than $20 million.
The copy of the lawsuit, reviewed by TMZ Sports, alleged in 2017, when Beckham’s previous contract was nearing expiration, the Super Bowl champion had considered making the jump to Adidas.
“When Nike exercised its right of first refusal to match the Adidas offer and not only kept me as a Nike Athlete, but also made me one of their Brand Icons — my dream had been fulfilled,” Beckham said in a statement, on Twitter.
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However, the new deal struck between him and Nike was quite different from the one he originally had with the brand, making it “nearly impossible for him to trigger very valuable extensions of the deal.”
“Unfortunately, Nike did not honor its commitments. Throughout our partnership, I have kept my promise and fulfilled my obligations to the brand. I am extremely disappointed that I’ve had to take these measures to ensure Nike fulfills their obligations and promises,” Beckham’s statement continued.
Beckham signed his first deal with Nike back in 2014. It was a three-year deal worth $45 million and gave Nike the right to match any offer at the end of his contract. In 2017, Adidas made him an offer that was worth up to $47 million in guaranteed extensions.
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It is also being alleged through the lawsuit that Nike withheld more than $2 million of payment to the athlete in March because of equipment violations.
“Today, I’m taking a stand not just for me, but to set a precedent for all athletes who have dedicated their life to the sport they love – especially those who don’t have the means to stand up for themselves. We are held responsible for fulfilling our obligations under our contracts, but we also have to hold powerful companies like Nike accountable for honoring their commitments too,” Beckham’s statement read.
“I look forward to resolving this issue and hope we can start a real conversation about protecting athletes and their rights. This happens too often in the sports industry and it’s time for change.”