Nike is partnering with the German Football Federation, replacing Adidas, who has been the federation’s sponsor for decades. The sneaker and apparel company has been awarded with this key contract, starting in 2027, CEO John Donahoe says on a call with analysts following the company’s latest results. “It was remarkable team effort and a great proof point that when Nike brings out our best, no one can beat us,” Donahoe says. The company didn’t disclose financial details of the deal. Shares drop 5.8% to $95.