Two powerhouses in their respective fields–Creative Artists Agency and Nike–are teaming up to develop sports-related entertainment projects.
While few details were available about the proposed projects, both the talent/literary agency and the athletic-wear manufacturer said the focus of their collaboration will be sporting events and sports programming with global appeal.
The first project is expected to be announced this spring.
While neither Nike nor CAA exex were available for comment, agency topper Michael Ovitz said in a statement, “Nike is an extraordinary company, which has revolutionized how sports and athletics are viewed. We are looking forward to working together to redefine and expand the world of sports entertainment.”
According to an insider familiar with the deal, it is substantially different from the one CAA and Coca-Cola Co. entered into in 1991, when CAA was hired as a “worldwide communications consultant.”
The following year, a new agreement called for CAA to develop creative concepts and produce advertising for Coke in partnership with ad agency McCann-Erickson. That deal gave CAA authority over many facets of Coca-Cola advertising.
CAA’s Nike deal has nothing to do with advertising or marketing. Also, Nike will not be a client of CAA.
“Our goal in working with the best entertainment company in the world is to combine our knowledge of sports with their expertise in entertainment to create sporting events and programs that excite a global audience,” said Nike founder and chairman Philip H. Knight in a statement.
Nike is the world’s largest sports and fitness company with revenues for the last 12 months of $ 3.7 billion.