7/2/2019, 5:53 PM (Source: TeleTrader)
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Nike B+1.12%

Chart for: Nike, Inc.

Arizona stops subsidizing Nike plant over sneaker recall

Governor of Arizona Doug Ducey on Tuesday ordered state's Commerce Authority to withdraw all financial incentives currently provided to the Nike Inc. over recent dispute the company had with one of its endorsers, Colin Kaepernick.

Earlier, the media reported that Nike would not sell its sneakers featuring an earlier version American flag after a complaint from former NFL football player. Allegedly, Kaepernick reached out to company officials stating that the US flag with 13 stars was used during the era of slavery, which some, including him, find offensive.

"Instead of celebrating American history the week of our nation’s independence, Nike has apparently decided that Betsy Ross is unworthy, and has bowed to the current onslaught of political correctness and historical revisionism... Arizona's economy is doing just fine without Nike. We don’t need to suck up to companies that consciously denigrate our nation’s history," Ducey tweeted.

Breaking the News / MA