Kaepernick- the polarizing quarterback who began raising awareness about police brutality and racial injustice by sitting and later kneeling during the national anthem at football games in 2016-announced the "Just Do It" ad with a photo on Twitter September 3.
In the leaked memo, Zahn took things a step further against the apparel giant, insisting that parent-run organisations that raise funds for school teams, need to seek permission from his office before buying gear from Nike if they wish to use public facilities.
Nike took it all in stride, releasing a statement instructing people on "how to burn our products properly".
In early trading Tuesday, Nike's shares dropped by almost 4 percent, "the biggest intraday slide in five months", Bloomberg reports.
"In their new ad campaign, we believe Nike executives are promoting an attitude of division and disrespect toward America", the college's president, Jerry Davis, said.
I think we found out what they were thinking.
Longer-term, Nike stock has surged 33 percent this year as Wall Street bet that the company would be able to ride out the negative publicity.
"He's inked a contract with Nike", Morris said during his sermon.
Nike's Colin Kaepernick "Just do it" campaign The campaign in question made its first video appearance when Kaepernick tweeted out a two-minute video featuring himself narrating stories of athletes who have beaten the odds, ending with the words "It's only insane until you do it", then changing to "Just do it".
But many marketers have described the ads as a savvy bet on higher sales from millennials and non-white consumers, an idea that has been supported by some data since the Kaepernick spots were unveiled.
Nike has not commented on the ad since its debut. But Svezia added, that at the end of the day, Nike's financial achievements will always be tied to their product and so "The reason why Nike is where it is", Svezia said, is because "their product is resonating".
While the announcement of the sponsorship choice did drop Nike's stock earlier last week, a new report said the company's online sales after the announcement grew 31 percent.
And it's part of a trend that has lifted Nike's share price more than 30 percent in 2018 and 56 percent over the last 52 weeks.