Nike Versus Adidas: Who Will Be Crowned Euro 2024 Champion?
ConsumersSummary
The 2024 UEFA European Football Championship (Euro 2024) takes place in Germany from June 14 to July 14, with 51 matches being contested to crown a European champion. In this commentary, we discuss the factors that play into kit sponsorship and values, which athletic brands are best placed to gain the most visibility in the tournament, and the credit risk implications.
Key highlights include:
-- Euro 2024 is expected to be one of the most-watched global events of the year, with viewership peaking at more than 300 million for the final.
-- With football's global appeal, sponsorship of the beloved game is a lucrative opportunity for brands.
-- Kit sponsors are the brands with the most visibility, and who are most dependent on the tournament's outcome for a successful return on investment.
“Three of the four teams that currently have the best odds of winning the tournament—England, France, and Portugal—sport Nike’s the Swoosh logo on their kits, and Nike thus has the best chance of having one or even two teams in the final,” said Aarti Magan, Vice President, Diversified Industries at Morningstar DBRS. “Advertisements from the winning athletic brand that celebrate the European champions will likely transfer the connection that fans have with their respective teams to the brand itself, leading to greater customer loyalty and brand strength, a bigger market share, and an even larger global reach.”
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