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Nike Lets Mbappé Walk — To On

Nike just let a twenty-year relationship walk — Kylian Mbappé has signed a ten-year cash-and-equity deal with On, the Swiss brand co-owned by Roger Federer, in its first-ever football signing. Also today: Sky Italia extends its United Rugby Championship rights for three more seasons despite Italy's two clubs finishing dead last; Stephen Curry's $400 million Li-Ning shoe deal still doesn't have an actual shoe until 2027; betting and prediction-market advertising is up 21% year over year as exchanges like Polymarket and Kalshi eat into sportsbooks' share; a Brazilian club's complaint triggers a…

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