It has been a few days after the NBA Finals and people are still on the Cavs’ bandwagon, rightfully so. The Cavs made Final’s history coming back after being down 3-1 to the Warriors along with LeBron James and Kyrie Irving hitting record-breaking stats. Not only did they make NBA history, the team made history for their home Cleveland who hasn’t seen a championship title in multiple decades.
What does this all mean? Well the hype in Cleveland for these players is probably unimaginable and will probably linger for a while. Something else that will come out of this Cleveland victory will likely be a Nike comeback.
Nike has been struggling with their stock for some time now. Sports Authority’s rift has not been the greatest for the brand either. A Cavs win can turn it all around for Nike.
Nike sponsors the MVP of the Finals, LeBron James. James’ apparel is likely to skyrocket after his Finals performance. According to sources, Nike rose nearly 2 percent midday Monday after Game 7.
Nike probably would not have seen the same results if the Warriors would have defeated the Cavs for the second year in a row. Steph Curry, the Warriors star player, is sponsored by Under Armour. A Warriors win may have cause increase for the rival brand however that is clearly not the case.
Right now Nike is improving their numbers thanks to King James. Also a prominent Olympic sponsor, I believe Nike will start to see some numbers that can make them breath a little in the very near future.
The brand based out of Oregon will outfit the Americans, part of the Brazilian team and even the Olympic committee during the 2016 Rio Olympics. Nike predicts that sales will sky rocket during these Games, they better hope for LeBron type performances from all of their athletes in order for this to become realty.