Real Madrid forward Kylian Mbappé has ended his nearly 20-year relationship with Nike to sign a global partnership with Swiss athletic brand On, according to official announcements made by the player and the company on September 18, 2026. The agreement pairs the France captain with an enterprise backed by Roger Federer and features Thierry Henry as director of football, marking On’s official entry into the global soccer market ahead of a planned 2027 boot rollout.
The Terms of the On Partnership and Product Strategy
The deal structure combines cash compensation with equity stakes in the Swiss company, positioning Mbappé as both a primary brand ambassador and an active collaborator in product development. According to European sports media reports, Mbappé turned down a renewal offer from Nike estimated at 20 million euros annually to align with On. David Allemann, founder of On, described the forward as the ideal partner to shape the future of the sport. As part of the project, Mbappé will test and help engineer On’s upcoming soccer footwear line utilizing the brand’s LightSpray manufacturing technology before its official pitch debut in 2027, wearing On training apparel in the interim.
Mirroring the Federer Blueprint in Global Footwear
The collaboration mirrors the strategy On deployed in 2019 when Roger Federer acquired an approximate 3% equity stake in the Zurich-based running shoe company founded in 2010 by Olivier Bernhard, David Allemann, and Caspar Coppetti. Federer transitioned from a Nike endorsement to co-owning and building product lines with the Swiss brand, helping propel its international growth and 2021 New York Stock Exchange public offering. On has similarly enlisted Thierry Henry—who began working with the company in 2025 as director of football—to help integrate elite player feedback into its product pipeline. Mbappé announced the transition on his social media channels with a statement reflecting on his childhood passion for the sport, noting that he wanted to work with innovators who share his vision for getting closer to the game.
Nike’s Recent High-Profile Brand Departures
The departure of Mbappé represents a significant blow to Nike’s soccer portfolio. According to reports, Nike lost Lamine Yamal to Adidas in August, followed weeks later by the exit of Mbappé, who had served as a flagship athlete for the brand’s Mercurial boot silo since his youth academy days. While Nike’s technical contract with the French striker expired on July 31, 2026, the transition to On establishes a new competitive dynamic in football apparel, pitting an emerging Swiss challenger against established market leaders like Nike, Adidas, and Puma.