Sep 04, 1:36 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Andrew N. White 09/04/18 AT 12:31 PM Shares of Nike Inc. (NKE) dropped roughly 3 percent Tuesday morning following the release of a new ad featuring former NFL quarterback Colin Kaepernick, who is currently suing team owners for colluding to keep him out of the league.The sportswear company’s share price fell to $79.75 in pre-market trading after Kaepernick tweeted the ad via his official Twitter account on Monday. “Believe in something, even if it means sacrificing everything. #JustDoIt,” he wrote in the photo’s caption.The new multi-year deal with Kaepernick will feature apparel including a shoe and t-shirts. Odell Beckham Jr., Lacey Baker, Serena Williams and LeBron James are among other athletes involved in the campaign.The advertisement comes as Nike celebrates the 30th anniversary of its iconic “Just Do It” campaign. Kaepernick and Nike already had an endorsement deal from when he entered the NFL in 2011. However, that contract was expiring soon and has now been renewed.Believe in something, even if it means sacrificing everything. #JustDoIt pic.twitter.com/SRWkMIDdaO— Colin Kaepernick (@Kaepernick7) September 3, 2018″We believe Colin is one of the most inspirational athletes of this generation, who has leveraged the power… Read full this story
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