Nike, Endorsement Deals | featured news

Nike Inc. has suspended its contract with Oscar Pistorius, the double-amputee runner from South Africa charged with premeditated murder in the Valentine's Day slaying of his girlfriend. Pistorius, who became the first double-amputee runner to compete on the track at the Olympics at last year's London Games, is accused of intentionally killing model Reeva Steenkamp. Pistorius says he mistook Steenkamp for an intruder and that the shooting was accidental. "We believe Oscar Pistorius should be afforded due process and we will continue to monitor the situation closely," Nike said in a brief statement posted on its website Wednesday.

Lance Armstrong stepped down as chairman of his Livestrong cancer-fighting charity and Nike severed ties with him as fallout from the doping scandal swirling around the famed cyclist escalated Wednesday.

Nike and Reebok, two of the largest players in the sports gear industry, are embroiled in an unholy spat over who gets to make and sell products featuring the name of newly minted New York Jets quarterback Tim Tebow.