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Nike stock drop sparks debate over NBA player popularity
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Ever since Michael Jordan, Nike has become the NBA's most synonymous brand . Many of the games' biggest names have had their signature brand shoe . However, the iconic brand has been taking a hit on Wall Street.
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On the Hoops Tonight Podcast, NBA on ESPN analyst Brian Windhorst openly stated that Nike stock has taken a 15% dip. At the same time, he indicated that part of the reason for that was a decline in popularity among NBA players.
At the same time, Windhorst said the NBA can combat that by pointing to its finances and franchise valuations.
"Nike's revenue has been really down, and Nike's stock has been obliterated over the last 24 months or so, 18 to 24 months," he said. "And this analyst at UBS, by the way, the analyst at UBS doesn't care. They're writing to their investors. And they basically said, part of the reason Nike is selling fewer basketball shoes is that basketball players aren't as popular as they used to be. The reason that's worth paying attention to is that's an independent arbiter who only cares about data."
According to Forbes Magazine, the highest NBA franchise value was at $5.4 billion as of October 2025. Plus, the Golden State Warriors have the largest franchise value at $11 billion. Additionally, the NBA is projected to make $14.3 billion in revenue, per Kurt Badenhausen and Lev Akabas of Sportico. Plus, they will be giving out $36 million in playoff bonuses.
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In 1992, Nike became an NBA sponsor, capitalizing in large part on the popularity of Michael Jordan.
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