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Nike ends sponsorship deal with Russian Premier League club Spartak Moscow

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November 24, 2021 Spartak Moscow players applaud fans after the match REUTERS

Nike (NKE.N) has terminated its sponsorship deal with Russian Premier League club Spartak Moscow because they will not be taking part in European competitions next season, the company and the club said.

UEFA, the governing body of European soccer, decided Russia would have no affiliated teams participating in its club competitions in the 2022-23 season due to Moscow's military campaign in Ukraine.

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