Athletic apparel giant Nike (NKE) is permanently ending its sponsorship of Hockey Canada following a high-profile sexual assault case.
In a written statement, the company said: “Nike is no longer a sponsor of Hockey Canada… We will continue to provide on-ice product for Hockey Canada athletes as part of our partnership with the International Ice Hockey Federation, but our individual partnership with the federation has ended.”
Nike, which is best known for making sneakers, had previously announced a temporary suspension of its Hockey Canada sponsorship last autumn. Now, the company has permanently ended its support.
The move comes as Hockey Canada struggles in the wake of a $3.5 million lawsuit that a young woman filed alleging that eight hockey players sexually assaulted her after a 2018 Hockey Canada gala in London, Ontario.
The London Police Service is currently investigating the matter. An initial investigation ended in 2019 without any charges being filed.
Hockey Canada has been accused in the lawsuit of failing to address systemic abuse within its organization and condoning the sexual exploitation of women.
None of the allegations have been proven in court.
However, Hockey Canada's entire board of directors resigned last year after months of public scrutiny, and calls from politicians for the organization to overhaul its leadership.
Hockey Canada appointed Katherine Henderson as its new president and chief executive officer (CEO) earlier in July of this year.
Nike’s stock has declined 9% so far this year and currently trades at $108.71 U.S. per share.
Related Stories
