Hi Reader,

Welcome to this week's newsletter and a special greeting to all our new subscribers. It was great to meet some of you in Madrid last week and I am looking forward to meeting more readers and podcast listeners at Soccerex in Miami next week. I'll be moderating a panel on the Bundesliga's North American strategy with representatives of top German clubs but will be on site at Nu Stadium for most of the event.

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As always, you can contact me at simon@thesoccerbusiness.com.

Cheers

Simon Evans

The Soccer Business.

Mbappé's Nike bombshell a sign of things to come?

The term 'player power' is usually applied in relation to the increasing ability of players to ignore their contracts and demand a change of club - or in some cases to put pressure on a club to change coach. But perhaps we are entering an era where the popularity of individual stars is going to shape the market around the game.

This week Kylian Mbappé ended his nearly two-decade relationship with Nike — a partnership dating back to when he was nine years old — to become the face of Swiss challenger brand On's first push into football boots. The Athletic reports Mbappé has been given equity in On as part of the deal, on top of undisclosed cash terms, and that former France and Arsenal star Thierry Henry, who has been working in stealth mode as On's Director of Football since 2025, played a direct role in convincing him to sign once his Nike contract expired this summer.

In shunning Nike, Mbappé also passed over Adidas and Puma, the other two dominant football boot suppliers. Nike struck a gracious tone: “Kylian's journey with Nike began when he was nine years old... we are proud of what we achieved together on and off the pitch,” the company told The Athletic — but the loss lands at an already brutal moment, with Nike stock down more than 40% this year, near decade lows, and about to drop out of the S&P 100 after 18 years, amid slowing sales and continued weakness in China.

For On, it's the boldest signing in the 17-year-old Swiss company's history and a deliberate bet that a challenger can out-innovate the incumbents rather than compete on their terms. Founder David Allemann framed it explicitly that way: “Football doesn't need another sportswear brand to do more of the same. Football needs new ideas and a challenge to what is possible... With Kylian we have the perfect partner to dream what football can become.” Mbappé will work directly with On's product teams on football boots and apparel (due to hit retail in 2027), appear in On boots in EA Sports FC 2027 when it launches on September 25.

On is clearly hoping Mbappé can do for football what Rogr Federer did for their presence in tennis — and Nike, already ceding ground this year with Emma Raducanu (to Uniqlo) and Martin Odegaard (to Adidas), is the incumbent absorbing the hit.

On aren't the only challenger to the Big Three in boots - Decathlon/Kipsta, Sketchers and New Balance are an increasing presence alongside longer term presences Mizuno and Reebok. None are likely to break into the top three anytime soon but it does mean the category is beocming less of a three-brand purchase decision. Endorsement switches like Mbappé's can have real impact on the market.

For clubs looking for deals for their kit supplier, the role of the player is less significant but there is a similar situation in terms of diversification- Castore and Hummel are making inroads in England; Macron, Joma and Kelme are strong in Spain while Italy sees 12 firms supplying the 20 Serie A teams - Nocta, EA7, Mizuno, Kappa, Zeus, Eye Sport and New Balance each have at least one club. In North America, MLS clubs are restricted by the league-wide deal with Adidas but in USL we see a meaningful challenger in Mexican firm Charly with Hummel having made strong inroads in recent years. Capelli Sport, less of a fashion focused brand having established itself in youth soccer, is still strong but many of the European brands are now competing for deals.

And with many clubs around the world starting to take leisurewear and fashionwear seriously as a revenue generator, how long until we start to see some club's develop their own brands and take full ownership over the entire process or as a first step set up a JV? Mbappé's deal with On - including the equity element could be viewed as something close to a JV between player and manufacturer.

All of this fragmentation and diversification increases the choices - and likely the leverage - for players and clubs looking for deals. Nike are the big losers from the Frenchman's decision but there could be many winners in the coming years as soccer's equiptment market undergoes real change.

Leaving the studio pays off. While in Madrid, for the WFS, I caught up with Robert Faulkner, Chief Business and Communications Officer of AFC Wrexham and he kindly agreed to spend some time breaking down how the club has evolved on the operations side while racing through the divisions. As Rob notes, the Hollywood connection and the ESPN/Disney series mean 'doing a Wrexham' is not something that is replicable for other clubs but there are lessons that can be learnt from how they have managed growth, internationalization and innovation while maintaining a strong connection with their hardcore local fans. Click below to watch the episode on You Tube.

You can also find the links to the Apple and Spotify audio versions of the podcast here as always.​

Canadian Soccer Media and Entertainment signs distribution partnership with DAZN Canadian Soccer Media and Entertainment (CSME) has agreed a partnership with DAZN to distribute Canadian soccer content through the streaming platform, expanding DAZN's North American footprint.

The deal adds to DAZN's growing roster of domestic and international soccer rights and gives CSME a broader distribution channel. Source: Sportico​

Kitman Labs renews performance-data partnership across all NWSL clubs The NWSL and athlete performance-data provider Kitman Labs have renewed their league-wide partnership, keeping the platform as the centralized system for injury and performance monitoring across every club.

The renewal reflects the continued build-out of sports-science infrastructure in the league as NWSL valuations and investment keep climbing. Source: Sportico​

Joycity signs MLSPA licensing deal for “FreeStyle Football 2” South Korean mobile developer Joycity has signed an official licensing deal with the MLS Players Association and its group-licensing partner OneTeam Partners, covering the use of MLS players' names and likenesses in its new mobile title, FreeStyle Football 2.

The agreement extends MLSPA's group-licensing program into mobile gaming, giving players a cut of the game's revenue and Joycity a recognizable roster to build the game around. Source: Inven Global​

Sacramento Republic FC opens preview center for new Railyards stadium USL's Sacramento Republic FC has opened a preview center for its planned stadium in the city's Railyards development. The stadium push is being framed locally as a way to rebuild the infrastructure case for a fresh bid. Source: Sacramento Bee​

Vancouver Whitecaps FC sign ICBC as presenting partner The Whitecaps have signed British Columbia's public auto insurer, ICBC, as presenting partner of the club's 'Caps United fan program and as a broader official partner. Source: Vancouver Whitecaps FC​

Leifras acquires Canadian youth soccer school operator Japan-listed Leifras has signed a deal to acquire a Canada-based soccer school operator A To Sports, its first entry into the North American market as part of a broader global expansion strategy.Source: StockTitan​

Nomadar to acquire majority stake in Fox Soccer Academy Nasdaq-listed Nomadar has signed a definitive agreement to acquire a majority interest in Fox Soccer Academy, a US youth soccer organization co-founded by former Premier League defender Christian Fuchs and Raluca Gold-Fuchs, who remain involved in the academy's development. The deal expands Nomadar's push into youth sports infrastructure and gives the academy backing to scale further across the US youth soccer market. Source: StockTitan​

Clearlake Capital takes full control of Chelsea FC Private equity firm Clearlake Capital has bought out co-owners Todd Boehly and Mark Walter's stakes in Chelsea — reported at roughly £950m — to become the club's sole controlling owner. The deal ends the four-year co-ownership structure in place since the 2022 takeover from Roman Abramovich, with Boehly and Walter expected to book a profit on their original investment.

The consolidation comes as English football sees a wave of ownership churn more broadly — The Athletic reported this week that a record number of Premier League and Championship clubs are currently for sale or seeking fresh investment. Source: ESPN​

Mexico's antitrust watchdog opens probe into professional soccer market Mexico's competition authority (Cofece) has launched an investigation into possible monopolistic practices tied to the Mexican federation and Liga MX's closed-league structure, which has run without promotion and relegation since 2020. The probe follows long-running complaints from lower-division clubs shut out of the top flight.

A finding against the federation could eventually force Liga MX to reopen promotion and relegation, with knock-on implications for club valuations, broadcast deals, and sponsorship structures across the Mexican pyramid. Source: ESPN​

Brad Friedel joins takeover of an English lower-league club Former USMNT goalkeeper Brad Friedel has become involved in a takeover of League Two (fourth tier) Shrewsbury Town, joining the growing run of high-profile American investors buying into England's non-league and League One/Two pyramid. Source: AS USA (Diario AS)​

Colin Cowherd buys a stake in Ipswich Town Fox Sports host Colin Cowherd has taken a minority stake in Premier League side Ipswich Town, adding another recognizable US media name to the recent wave of celebrity investment in English soccer. Source: Awful Announcing​

Brooks — the Seattle running brand — makes its Premier League entrance with Crystal Palace Brooks Running, the Seattle, Washington-based footwear company, has signed on as Official Footwear Partner of Crystal Palace, its first-ever sponsorship of an English Premier League club. The deal puts the Brooks logo on the front of training, travel, walkout and warm-up apparel for both Palace's men's and women's first teams (matchday kits and playing cleats aren't included), plus branding across Selhurst Park's pitchside and digital LEDs, stadium screens and media backdrops. Brooks will also sponsor Palace for Life's Marathon March charity event this October.

It's a notable data point for an American brand better known for road-running shoes pushing into the commercial heart of European football rather than the other way around — CMO Melanie Allen framed it as leveraging Brooks' running pedigree to reach “millions of footballers and fans” beyond its core market, while Palace's commercial chief Paul O'Brien called it a “natural fit” between the two. Source: SGB Media​