Mbappé Jumps Ship to On as Swiss Brand Enters Soccer Market

French soccer star Kylian Mbappé has left Nike to sign with Swiss sportswear brand On in a cash-and-equity deal. This gives On its first major star as it enters the soccer market for the first time.

Nike chose not to renew Mbappé's contract when it expired in July 2026, deciding to direct its endorsement spending elsewhere.

Mbappé's departure adds to a troubling pattern for Nike's soccer business. The company has also lost Lamine Yamal to Adidas and the Premier League match-ball contract to Puma, while Adidas gained valuable exposure by supplying both teams in the 2026 World Cup final.