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Morning Edition

March 21, 2025

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Nike’s bar is lower than it used to be. The company remains down from its past heights, but a Thursday earnings report beat analyst expectations, and new CEO Elliott Hill said “we’ve reclaimed our identity.” Here’s what we found out.

— Eric Fisher [[link removed]], Amanda Christovich [[link removed]], and David Rumsey [[link removed]]

Nike Struggles Continue, but Signs of Turnaround Appear [[link removed]]

Kirby Lee-Imagn Images

Nike’s attempted comeback under new president and CEO Elliott Hill [[link removed]] is showing some initial signs of life, with the sports apparel and footwear giant beating expectations in its most recent quarter.

The Oregon-based Nike said it generated $11.3 billion in revenue for its fiscal third quarter, down 9% from the comparable period last year but above analyst projections. Net income of $794 million also trailed last year’s third quarter by 32%, but that total, too, surpassed the relatively tepid expectations of Wall Street—indicating there could be at least the roots of a recovery emerging.

“Look, it’s been a tough couple of years. We’ve been through a lot of change,” Hill said in an earnings call with analysts. “What’s encouraging is that in the 150 days since I’ve been back, we’ve reclaimed our identity. We know who we are.”

Investors had mixed feelings on the sentiment of progress, initially sending up shares in Nike by more than 2% in after-hours trading Thursday before a subsequent decline of more than 4%. The stock is down by 17% in the last six months, driven significantly by internal turbulence that has included leadership turnovers, multiple rounds of layoffs, and sliding company performance in the wake of heightened competition.

Upcoming quarters will have more bumpiness with Nike detailing an outlook of further revenue and margin declines as the retooling continues. Hill, however, outlined a series of ongoing initiatives, including a slate of new products and retooled inventories.

“Nike is getting back to being Nike again,” Jefferies analyst Randal Konik wrote in a research note.

Hill also cited the brand’s work with the NFL and Eagles quarterback Jalen Hurts leading up to and during Super Bowl LIX [[link removed]]—including a hugely popular “Love, Hurts” hoodie and massive exposure during the halftime show—as a key initiative during the quarter.

The latest financial results follow an expectedly downbeat report last fall [[link removed]] for the fiscal first quarter and a similarly sluggish one in December [[link removed]] for the fiscal second quarter.

Leadership Shifts

Nike’s comeback bid, meanwhile, includes the departure of additional senior executives. Chief strategy and transformation officer Daniel Heaf had his role eliminated, with his teams now being moved to the company’s finance department. Chief communications officer KeJuan Wilkins is also exiting after nearly two decades with Nike.

These shifts follow several similar ones in recent months across other major departments including sports marketing, legal, and human resources.

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McNeese State Manager Turned NIL Star Steals the Spotlight in Upset Win [[link removed]]

The Providence Journal

Twelfth-seeded McNeese State, which pulled off a thrilling 69–67 upset of No. 5 Clemson on Thursday afternoon, is this year’s first Cinderella story of the NCAA tournament. The team’s most viral star isn’t even a player, though. It’s student manager Amir “Aura” Khan.

Khan first went viral in February for a video posted on social media of him rapping Lud Foe’s “In & Out” [[link removed]] while leading players out of the tunnel for a game against Texas A&M Corpus Christi, carrying a giant boombox around his shoulder. Since then, he’s become a sensation, leading his teammates onto the court while blasting the rap tunes.

Khan, a native of Lake Charles, La., and a senior at McNeese State, is also believed to be the first student-manager to land NIL (name, image, and likeness) deals. He also has partnerships with Buffalo Wild Wings and Insomnia Cookies, and has even worked with The NIL Store on custom merchandise [[link removed]]. Through a deal with TickPick, he now carries a boom box with the company’s logo across the top. Just hours before tip-off Thursday, he posted another sponsored video promoting The Formula Bot. [[link removed]]

The situation exposes the disparate manner in which the NCAA has insisted on treating college athletes, compared with their non-athlete student counterparts.

Unlike “student-athletes,” student managers have never been precluded from capitalizing on their NIL potential. The NCAA prohibited players from signing NIL deals until it agreed to change its rules on July 1, 2021. But the NCAA has never implemented a rule against a student manager doing endorsement deals, or otherwise profiting from their own NIL.

“It’s just another demonstration about how the only concern the NCAA had for amateurism was regarding the players on the floor,” Boise State sports law professor Sam Ehrlich tells Front Office Sports.

So while players and student managers alike can now capitalize on their Cinderella moments during March Madness, the NCAA for years insisted on treating players differently than even the student workers sitting next to them on the bench.

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market [[link removed]]

Detroit Free Press

Raiders defensive end Maxx Crosby held the distinction of “ the NFL’s highest-paid non-quarterback [[link removed]]” for just four days.

Earlier this month, after signing a three-year, $106.5 million extension with Las Vegas, Crosby’s new-money average annual value of $35.5 million was quickly topped by Browns defensive end Myles Garrett [[link removed]] ($40 million), and then by Bengals receiver Ja’Marr Chase [[link removed]] ($40.5 million).

That wasn’t a surprise to Crosby’s agent, CJ LaBoy, who was anticipating a big market shift this offseason for pass rushers, whom he expects to consistently be the richest non-quarterbacks.

“I do think the edge market will outpace the receiver market, simply because of the players that are coming up for contract extensions,” LaBoy, the SVP of Wasserman’s NFL division, told Front Office Sports.

LaBoy pinpointed Cowboys star Micah Parsons and Lions defensive end Aidan Hutchinson as the next two to break the record and doesn’t think a receiver will surpass Chase in the immediate future.

“The Bengals kind of backed themselves into a corner by being very public about saying they will make him the highest-paid non-quarterback,” LaBoy said. “So, as that market shifted, they lost control over it. They didn’t have a choice. They’ve already made that promise.”

When negotiating Crosby’s deal, LaBoy said it was “less about the arms race, and more about just doing the absolute best deal for the individual player,” which he feels is just as strong as Garrett’s contract, despite being of lower overall value.

Tom Brady’s Raiders Role

Crosby will be playing for his fifth Raiders head coach and GM (including interims) in Pete Carroll and John Spytek. But before signing his latest extension, Crosby also wanted to get to know the new minority owners in Las Vegas, including Tom Brady.

Raiders SVP and director of football administration Tom Delaney is the team’s primary contract negotiator, which made Crosby’s discussions with upper management more broadly focused.

“It seems like across the league, the GMs are less involved with the negotiations of contracts,” LaBoy said. “Jon was involved in terms of making sure that their feelings for Maxx were communicated properly.”

And as far as Brady, who has been widely reported to be very involved in roster decisions thus far?

“Brady’s involvement was kind of similar—just communicating their ‘why,’” LaBoy said. “Why are they doing this? Why do they expect so much from Maxx specifically? What they’re trying to build there, the whole nine. But in terms of actually negotiating dollars and cents, they don’t get that involved in that part.”

FRONT OFFICE SPORTS NETWORK

The Realities of Coaching at Notre Dame

Notre Dame head coach Marcus Freeman joins Adam Breneman for a raw and insightful conversation about his journey to leading one of college football’s most storied programs.

He shares what it was like stepping into the role, the whirlwind 72 hours that changed his life, and the lessons he’s learned along the way. Freeman opens up about the challenges of being a head coach, the adversity he faced in his playing career, and how those experiences shaped his leadership style. He also dives into NIL (name, image, and likeness), recruiting, and what it will take for Notre Dame to win a national championship.

Watch the full Next Up episode here [[link removed]].

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This year, fans at TPC Sawgrass can engage like never before with Game the Green [[link removed]] at the iconic 17th hole, using real-time analytics to predict shot placements and climb the leaderboard. The Comcast Business Pavilion also provides a seamless blend of work and play with high-speed WiFi, live tech demos, and meeting spaces.

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Conversation Starters The space-themed Astros City Connect jersey features a quote from JFK’s “We choose to go to the moon” speech delivered in Houston in 1962. Take a look [[link removed]]. McNeese State cheerleaders wore socks with student manager Amir Khan’s face on them. Khan has gone viral in recent weeks for walking out with the men’s basketball team’s players. Check it out [[link removed]]. The WNBA announced its national TV regular-season schedule next year, and 41 of the 44 games played by Caitlin Clark [[link removed]] and the Indiana Fever will be nationally televised or streamed. Editors’ Picks Cooper Flagg Is Cleared to Play, Boosting Duke’s NCAA Title Hopes [[link removed]]by Jeff Benson [[link removed]]The top-seeded Blue Devils face 16-seed Mount St. Mary’s on Friday. Caitlin Clark, Fever Will Play 41 of 44 Games on National TV or Stream [[link removed]]by Michael McCarthy [[link removed]]The next-highest team, the Aces, will play in 33 national games. ESPN’s Monica McNutt Doesn’t Rule Out WNBA Work Stoppage [[link removed]]by Colin Salao [[link removed]]She believes these pro women’s players are laying the groundwork for the future. Question of the Day

Do you believe Nike can make a comeback to its glory days?

YES [[link removed]] NO [[link removed]]

Thursday’s result: 73% of respondents think NCAA tournament selection committee members need to give up bonuses for their teams reaching the tournament.

Advertise [[link removed]] Honors [[link removed]] Learning [[link removed]] Events [[link removed]] Video [[link removed]] Shows [[link removed]] Written by Eric Fisher [[link removed]], Amanda Christovich [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Or Moyal [[link removed]], Catherine Chen [[link removed]]

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