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Nike, the largest seller of athletic footwear and apparel in the world, is known for roping in well-known celebrities to advertise its products. Over the years, Nike has reaped rich dividends from endorsements of leading sportsmen like Michael Jordan, Tiger Woods and Andre Agassi. In 2003, Nike signed an endorsement deal with basketball player Kobe Bryant. Subsequently, Kobe was accused of sexual assault and his image was tarnished. Although other sponsors dropped Kobe Bryant as their endorser, Nike continued with the contract. The case, while highlighting the history of Nike''s celebrity endorsement deals, offers scope to discuss the pay-offs and risks involved in celebrity endorsements.