Free agent wide receiver Odell Beckham Jr. filed a lawsuit against sportswear giant Nike on Monday, alleging breach of contract and seeking more than $20 million in damages.
In the lawsuit, which was filed in Multnomah County Circuit Court, Beckham claims Nike"intentionally depressed sales" of products bearing his name in an attempt to avoid hitting sales benchmarks that would have triggered an automatic extension of his endorsement deal with the company."Rather than continuing to pay the compensation and guaranteed royalties it is contractually obligated to pay Mr.
that he was"extremely disappointed" to file the lawsuit but did so"to ensure Nike fulfills their obligations and promises." According to the lawsuit, Beckham first signed an endorsement deal with Nike in 2014, about six weeks before theselected him in the first round of the NFL draft. The contract called for Beckham to receive a flat fee for his endorsement, as well as a percentage of the net sales of products that bear his name or likeness.
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