Colin Kaepernick appears in Nike ad

Colin Kaepernick has new deal with Nike though he's not in NFL

New Nike ad campaign featuring Colin Kaepernick prompts burning response from some fans

NFL owners approved a new policyin May which made it mandatory for all players on the field to stand during the pre-match ritual of the United States national anthem, albeit allowing them to stay in the locker room if they didn't wish to take part.

Last week, Kaepernick scored a legal victory in his grievance against the NFL and its 32 teams when an arbitrator denied the league's request to throw out the quarterback's claims that owners conspired to keep him out of the league because of his protests of social injustice.

In the immediate backlash against the campaign, announced on Monday, Nike shares fell almost 4 percent at one point on Tuesday and closed down 3.2 percent.

While she did not mention Kaepernick, tennis great Serena Williams tweeted out her support for Nike, with whom she has also participated in the "Just Do It" campaign.

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In the ad, Kaepernick's face is shown with the words, "Believe in something". Some have accused Kaepernick and players who followed in his footsteps as disrespecting the American flag and the military. Nike's US revenue in the last quarter fell 5% in the last nine months.

Shares in Nike tumbled early Tuesday amid worries the sport goods giant's new marketing campaign around Colin Kaepernick could harm sales.

"But I think as far as sending a message, I think it's a bad message and a message that shouldn't be sent".

In an interview with CBS last September, Brady praised Kaepernick's quarterbacking ability and said, "he's certainly qualified and I hope he gets a shot". There have been those that have been unhappy with the many players that have made a decision to silent protest during the National Anthem with the notion that it is disrespecting the flag and the country.

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"We believe Colin is one of the most inspirational athletes of this generation", Gino Fisanotti, Nike's vice president of brand for North America, told the outlet.

Nike fell 2.9 per cent to $79.78 in mid-morning trading, the first session following news the former San Francisco 49ers quarterback would be featured in Nike's campaign.

Kaepernick caused a stir when he sat on the bench while the anthem played before a National Football League game in August 2016, in a move that he said was a protest over how the country treats black people and people of color.

The NFL and Nike extended their partnership in March to run through 2028.

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