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“If it doesn’t work for them, Nike’s not doing it, right?”

David Abrutyn, partner with Bruin Sports Capital, explains how the three-way licensing deal between the NFL, Nike and Fanatics works for the sporting goods giant, which extended its on-field rights partnership with the NFL in March.

SANTA CLARA, CA - DECEMBER 24: Calais Campbell #93 of the Jacksonville Jaguars wearing Nike football gloves puts his helmet on while on the sidelines during an NFL football game against the San Francisco 49ers at Levi's Stadium on December 24, 2017 in Santa Clara, California. (Photo by Thearon W. Henderson/Getty Images)

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