Where Mbappe will go if he breaks up with Nike
With rumours swirling about Kylian Mbappe’s future with Nike, marketing expert Steve Martin breaks down what could come next.
I have spent more than 30 years working in sports marketing, and one of the most consistent truths I have learned is that the football boot market is one of the most tightly controlled consumer categories in global sport.
Nike and Adidas, with Puma operating just behind them, have not simply dominated the space — they have defined it. They own the athletes, the storytelling, the retail presence and, crucially, the cultural relevance.
That is why the reports surrounding Kylian Mbappe’s departure from Nike and his potential move to an unexpected new football brand are so intriguing. After almost two decades with Nike, the relationship has become part of his identity.
Yet the suggestion that Mbappe could align with a challenger brand — potentially in a structure that includes equity — raises a far more interesting question than simply “who will he sign for next?” It asks whether one athlete can genuinely disrupt a market built on decades of dominance.
Becks boost
I was fortunate to experience first-hand the impact David Beckham had on Adidas, particularly in football footwear. Beckham did not just endorse boots; he elevated Adidas’ football credibility at a time when the brand was fighting for cultural relevance in the sport. His influence went beyond product visibility having signed his first deal in 1996.
He helped shape perception, desirability, and emotional connection in a way that traditional marketing alone could not achieve. But what we are now seeing in sport is an evolution of that model. Roger Federer and On provide the clearest example. Federer did not simply become a paid ambassador.
In 2019, he reportedly invested around $50m for a stake of approximately 3 per cent in the Swiss sportswear company and became directly involved in product development, including the successful “The Roger” line. That partnership has since been widely cited as one of the most successful athlete equity deals in modern sport, with his stake estimated to be worth several hundred million dollars depending on valuation. It even made him a billionaire; a title which has was recently taken away from him.
That is the shift: from endorsement to ownership. If Mbappe were to enter a similar structure, the implications would be significant. For a challenger brand, his presence would deliver instant global credibility. Every match for Real Madrid, every Champions League night, every France international appearance becomes a global marketing platform.
Brand Mbappe
Unlike traditional advertising, this is not reach that can be bought — it is earned through performance at the very highest level of the game. But the real disruption would not just be visibility. It would be alignment. An equity-based deal transforms the relationship. Instead of Mbappe being paid to promote a product, he becomes financially invested in building the business.
A structure combining a base fee, performance bonuses and a meaningful equity stake would align athlete and brand in a way that traditional sponsorship never can. For Mbappe, the upside is obvious: participation in long-term value creation. For the brand, the benefit is equally powerful: a global superstar who is not just the face of the product, but a stakeholder in its success.
Of course, this does not guarantee disruption. The boot market is not easily shaken. Product performance, distribution strength and long-term brand strategy still matter more than celebrity alone.
But if the product is credible and the structure is right, Mbappe has the potential to do something rare: not just endorse a challenger brand, but help build one capable of standing alongside the giants.
And having seen what Beckham did for Adidas, and what Federer has achieved with On, I would not underestimate what that level of influence can ultimately be worth.
Steve Martin is a founding partner at MSQ Sport + Entertainment