The Real Madrid and France captain signed an agreement that extends far beyond standard endorsement deals, positioning the forward as both a key product developer and a company shareholder.
The move represents one of the most disruptive commercial shifts in modern football economics. While financial terms and contract duration have not been publicly disclosed, financial markets reacted swiftly to the partnership, with On’s stock rising between 5% and 6% ahead of Wall Street’s opening bell following the announcement.
A Disruptive Entry Into Football
Founded in Zurich in 2010 by Olivier Bernhard, David Allemann, and Caspar Coppetti, On built its global reputation primarily on running shoes before expanding aggressively into tennis through a high-profile partnership with former world number one Roger Federer. Federer acquired a stake in the company in 2019 and helped launch “The Roger” lifestyle collection. On now plans to replicate that collaborative ownership model in football, naming former France international Thierry Henry as the director of its newly formed football division.
The incoming football division will lean heavily on technical innovation, utilizing On’s proprietary LightSpray manufacturing technology—a robotic arm system that sprays upper shoe material to dramatically reduce component counts and weight. On intends to unveil its first specialized football boots in 2027 before expanding its catalogue to include team kits and lifestyle apparel.
Mbappé addressed the transition through social media, sharing a statement detailing his alignment with the company’s trajectory. “He perseguido este sueño desde que tengo memoria y, una vez más, me ha llevado a uno de los mayores cambios de mi vida,” Mbappé stated in the official company announcement, expressing enthusiasm for working alongside innovators aiming to bring athletes closer to the game.
Commercial Fallout for Nike
The departure is a significant blow to Nike, which signed Mbappé during his adolescence and positioned him as the definitive global face of its football division. With Cristiano Ronaldo in the concluding chapter of his professional career, the French forward served as the American multinational’s primary active icon.
The loss compounds recent high-profile exits for Nike’s football portfolio, notably Spanish winger Lamine Yamal’s departure for Adidas in 2024. Despite these departures, Nike maintains partnerships with major international entities including the national teams of Brazil, France, England, and Germany—the latter captured after a historic transition—alongside elite clubs such as FC Barcelona, Paris Saint-Germain, Chelsea, and Inter Milan.
Unlike traditional sponsorships where players simply wear provided gear, Mbappé will actively participate in testing and developing upcoming boots and apparel lines. Alongside the Real Madrid star, On has incorporated emerging talent into its roster, including Barcelona’s Swiss midfielder Sydney Schertenleib.
Worth a look
