The sports apparel giant and the US Olympic Committee reached a four-year deal that will take effect after this summer's Athens Games with Nike becoming an official sponsor of the US Olympic Team.
Market rival adidas has provided podium and other team apparel for the past four years, but its sponsorship runs out after the Athens Olympics.
Nike has had ties to the Olympics for years, but the new deal marks the first time it has sponsored the US team.
The agreement is the third new sponsorship deal for the USOC since internal strife led to the resignations of seven top officials and a Congressional investigation early last year.
The turmoil put many sponsors under pressure - John Hancock Financial Services threatened to invoke a morals clause to back out of its deal - but the USOC has since renewed or upgraded numerous sponsorships.
Sports giant Nike has signed a sponsorship deal with the US Olympic Committee - a major fillip to the governing body following recent scandals.
