Photo Credit: AP Photo/Gerry Broome

Nike Loses $1.1 Billion Because Of Zion Williamson’s Shoe Explosion

For the college matchup between North Carolina and Duke, Superbowl prices were paid for tickets to the game. Tickets went for an average resale price of $3,296. Everyone, including Barack Obama, came out to see the duel between the arch rivals, not least because of Zion Williamson.

But then, after just 33 seconds, Williamson’s Nike shoe gave out and basically exploded. This resulted in his knee twisting and Williamson leaving the game with a mild knee sprain.

For Nike it was more than just a mild sprain, as Zion’s shoe explosion resulted in the Nike stock value plunging by $1.1 billion. On top of that, according to various analysts, the sneaker the malfunction might hurt Nike’s chanced to sign Williamson once he goes pro.