In this articleNKEFollow your favorite stocksCREATE FREE ACCOUNTNFL MVP Josh Allen signs with New Balance.Courtesy of New BalanceNFL MVP Josh Allen has left Nike to sign an endorsement deal with New Balance.The Buffalo Bills quarterback announced the news on Friday in a letter to his hometown of Firebaugh, California. The deal is a major win for Massachusetts-based New Balance.Allen has been a Nike athlete since he joined the league in 2018. The swoosh has faced headwinds in recent years as innovation slowed and sales declined.Terms of the deal were not disclosed, but New Balance has committed to funding the Firebaugh community youth sports program as part of the agreement.”I’m proud to share I’m joining the New Balance family, a brand that, like Firebaugh, is built on family, community and authenticity,” Allen said in the letter.Josh Allen, #17 of the Buffalo Bills, scrambles out of the pocket during an NFL game against the Miami Dolphins at Hard Rock Stadium in Miami Gardens, Florida, on Sept. 12, 2024.Perry Knotts | Getty ImagesFirebaugh is not only where Allen grew up, but also where he first trained and developed his passion for football, he said.”Firebaugh didn’t have quarterback camps or private trainers. We had heart. We had community. And I wouldn’t trade that for anything,” Allen said in the letter.Get the CNBC Sport newsletter directly to your inboxThe CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.Subscribe here to get access today.Allen is one of the league’s biggest stars and has led the Bills to the playoffs for six straight years. He was also featured in HBO’s “Hard Knocks: Training Camp With the Buffalo Bills,” which aired its finale on Tuesday.New Balance, which has rapidly expanded its athlete roster, also represents other big-name stars such as tennis player Coco Gauff, MLB’s Shohei Ohtani and the WNBA’s Cameron Brink.”As New Balance continues to grow its football family, we’re honored to welcome Josh Allen on the field and in the community, helping lead the next chapter,” the company said in a statement.Earlier this week, Allen also announced he was joining Therabody as the fitness recovery brand’s first-ever Performance Advisor.Don’t miss these insights from CNBC PRONobel winner Joseph Stiglitz has a warning for bond investorsAs traditional 60/40 portfolios get riskier, BlackRock says investors should rethink their allocationsGoldman adds Walmart to September ‘conviction list.’ Here’s who else made the cutNvidia retail buyers are getting exhausted …
