Nike has renewed its contract with the NFL until 2038

Nike It has renewed its partnership with the National Football League for another 10 years after the league briefly opened the bidding process to competitors and held talks with other companies.

Under the terms of the agreement, Nike will remain the exclusive supplier of uniforms and sideline, practice and base layer apparel for all 32 NFL teams through 2038. Nike has been the NFL’s exclusive apparel supplier since 2012.

“This renewed partnership is a testament to the strength and success of our partnership with the NFL,” Nike’s newly appointed CEO Elliott Hill said in a news release. “As we embark on this new chapter, we are committed to co-creating leading-edge solutions to meet the rapidly changing needs of NFL athletes and fans while supporting the league’s growth and development initiatives.”

As part of the partnership, Nike said it will expand soccer’s global reach and use its sports research lab to address lower-body injuries and increase footwear safety.

The company said it will continue to support high school and college football and help bring the sport’s “most compelling narratives to life.”

“Nike has been an invaluable partner since 2012 and we couldn’t be more excited to have them on board for years to come,” NFL Commissioner Roger Goodell said in a statement. “In addition to products and services for our clubs, players and fans, Nike is a strategic partner that will help us grow football internationally, support youth football and make advances in player safety.”

The renewed partnership comes as Nike looks to turn around its business and maintain its position as a global leader in sportswear and footwear.

In October, CNBC reported The NFL was considering other partners because of his uniform contract, he set his deal with Nike to expire after the 2027 season. The league briefly opened the process to other bidders and spoke with several companies interested in competing for the deal, a source previously told CNBC.

The NFL’s decision to open up the bidding process came as Nike faced criticism for falling behind on innovation. Earlier this year, he botched a uniform launch with Major League Baseball by asking widespread complaints according to players and fans, the new kits were underwhelming, ill-fitting and looked “fantastic”. ESPN reports at that time

However, the issue was not enough to deter the NFL or the National Basketball Association renewed the contract With Nike in October.

Nike will report fiscal second-quarter earnings next Thursday.

– Additional reporting by CNBC’s Jessica Golden.