Home Business News Nike fined £10.7m over competition breaches

Nike fined £10.7m over competition breaches

by Mark Fitt Political Journalist
25th Mar 19 1:46 pm

The European Commission has fined sportswear giant Nike, £10.7m on Monday for breaching antitrust rules relating to cross border sales of football merchandise.

Nike banned traders from selling licensed merchandise to clubs such as Juventus, Barcelona, and Manchester United to countries within the European Economic Area.

Margrethe Vestager, the European Union competition commissioner said, “Football fans often cherish branded products from their favourite teams, such as jerseys or scarves.

“Nike prevented many of its licensees from selling these branded products in a different country, leading to less choice and higher prices for consumers.

“This is illegal under EU antitrust rules. Today’s decision makes sure that retailers and consumers can take full advantage of one of the main benefits of the single market: the ability to shop around Europe for a larger variety of products and for the best deals.”

Nike was granted a 40% fine reduction as they fully co-operated with the probe, “beyond its legal obligation to do so.”

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