$31 Billion Corp Bites Dust for Snubbing Lionel Messi’s Request as $14,600,000,000 Rivals Eye 30% Increase

A monumental mistake made by $31 billion apparel brand, Nike, reportedly cost the company billions. Yes, you heard that right- billions! It started by snubbing a request from a soccer superstar’s dad in 2005, and as a result, Lionel Messi ended up choosing $14 billion worth, Adidas, in 2006.

Back then, Nike had both Messi and Cristiano Ronaldo on their books. The Argentine was taking massive strides in the FC Barcelona Academy, even making a first-team debut in a friendly against Porto in 2003. Jorge Messi, his father, soon met with Nike, making a simple request. But the corp didn’t listen, and Adidas swooped in. The German brand is now reaping the benefits, as Messi-mania takes over the US.

Nike made a blunder in 2005

Currently, Nike boasts a portfolio of world-beaters like LeBron James, Michael Jordan, and Cristiano Ronaldo as lifetime endorsers. But it could have been a different game for the brand had they entertained Jorge Messi’s request. Just imagine having Lionel Messi with the above-mentioned legendary names. Nike may have just killed any competition.

But it wasn’t to be. Messi was showing glimpses of greatness back in 2003-04. His dad was sure of his son making a massive name in the future. He impressed the first team bosses such that Messi debuted with the first team at the age of 16 years, four months against Porto in a friendly in 2003. He wore Nike apparel then.

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According to Wall Street Journal, Jorge Messi approached Nike in 2005 with an apparel request. He asked the sportswear giants’ Iberian and South American subsidiaries for more athletic apparel. It fell on deaf ears, and the relationship between Lionel Messi’s entourage and Nike deteriorated. Adidas took the opportunity and signed him. And after 18 years, we can safely say that Nike made a blunder.

Lionel Messi helping $14.6 billion Adidas reach new heights

The fans flooded the German brand with Messi’s jersey requests when La Pulga announced his Inter Miami decision. Moreover, Messi’s arrival had a knock-on effect on the German apparel brand, whose share prices rose by 30%, a 14-month high. It didn’t stop there. According to Forbes, the market cap of Adidas has gone up by approximately $10 billion. 

Crucially, Messi also has been an endorser of Adidas since 2006. It was a German brand’s prompt decision to sneak in and land the Argentine’s signature in 2006 on a $1 million per year deal. It could have been a different story had they not capitalized on Nike’s mistake.

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And it seems Adidas and Messi are reaping the fruits of the arrangement.