Nike Extends Contract With USOC Through 2020

The U.S. Olympic Committee signed an extension to its sponsorship deal with Nike that will last through the Tokyo Games six years from now.

Nike is one of the USOC's top-tier sponsors. No dollar figures were given for the latest extension announced Monday. These contracts, however, traditionally have been worth between $12 million and $15 million over four years.

USOC chief marketing officer Lisa Baird says the deal is even more valuable because of Nike's worldwide reach and its advertising campaigns that feature Olympic athletes. Some athletes in Nike's most recent ad launches include Allyson Felix, Sanya Richards-Ross and Gracie Gold.

Nike is the second domestic sponsor to renew with the USOC through 2020. Chobani extended its deal in September.