Nike’s $300 million regret

NIKE may be famous for its big tick, but it managed to earn a big red cross for this embarrassing oversight.

Oops.

NIKE may be famous for its big tick, but it earned a big red cross for this oversight.

The swoosh will be embarrassingly missing from the get up of one of its hugely popular global stars at the most watched sporting event in the world this year, the Rio Olympic Games.

Nike signed world No. 3 golfer Rory McIlroy to a 10-year sponsorship deal worth an estimated US$250 million (A$330 million) in 2013.

The megadeal helped McIlroy take the No. 3 spot in this week’s Sunday Times Rich List for young sportsmen in Britain.

But Nike will have little to show for it in Rio, where Nike missed the opportunity to sponsor the 26-year-old.

The Olympic Council of Ireland (OCI) locked in a deal with New Balance to manufacture all the Irish Olympian gear, the Irish Independent reported.

As per Olympic rules, athletes can only wear team gear selected by their national council.

McIlroy will not be allowed to wear Nike shirts, hats, sunglasses or a belt.

He will, however, be able to use Nike technical equipment, including clubs and shoes.

Nike had the chance to sponsor the Irish team but let the “golden opportunity” go.

“Before Rory decided whether he’d declare for Team GB or Ireland, we put our team gear out to contract,” OCI boss Pat Hickey explained.

“Just in case he declared for us, we went to Nike in the UK and told them we might have Rory. But they just dismissed us out of hand and now they regret it, I believe.

“I’m told that the Nike guys nearly collapsed when they heard what happened and that they’d missed a golden opportunity.”

Nike ticks everywhere you look. Not in Rio.

According to the Independent, Nike “clearly thought” McIlroy would choose Great Britain over Ireland, but they didn’t get the team GB contract either. Adidas secured that deal and announced it a press conference earlier this week.

Over the past year, McIlroy enjoyed the biggest increase in wealth among Britain’s top earning athletes aged 30 and under.

The Northern Irishman made an extra £18m (A$34m) to take him up to £56m (A$107m) in yearly earnings.

He earned almost £7m (A$13.4m) in prize money but his huge deal with Nike, along with endorsements with Omega and Bose took him to another level entirely.

Manchester United star Wayne Rooney tops Britain’s young sportsmen rich list.

5 RICHEST BRITISH SPORTSMEN AGED 30 AND UNDER

1. Wayne Rooney, Football £82m

2. Andy Murray, Tennis £57m

3. Rory McIlroy, Golf £56m

Originally published as Nike’s $300 million regret