Mbappé Leaves Nike to Join On for Football Expansion

Kylian Mbappé has ended a Nike partnership dating to 2006, when he was eight, and joined Swiss sportswear brand On as a global ambassador. On described him as central to its football ambitions and plans to launch its first football boots in 2027, with LightSpray technology aimed at lightweight designs before kits and lifestyle products. Thierry Henry was named director of football, reportedly after holding the role behind the scenes since 2025. Mbappé wrote that football had led him to one of the biggest changes in his life and that he is surrounded by innovators who dream of the same things he does. Nike said it was proud of what they achieved together on and off the pitch and wished him continued success. On shares rose about 5% in U.S. premarket trading; one account put the gain as high as about 7%. Financial terms were not disclosed, though one report said Mbappé received equity. The company cited a model like Roger Federer's 2019 partnership as shareholder. On stock was down about 40% over the past year near a 52-week low around $26, while trailing-twelve-month revenue grew about 25%. It holds about $536 million free cash flow and $1.5 billion cash with no net debt. Whether the 2027 boots convert attention into football revenue is unresolved.