Losing the partnerships may be unlikely to financially concern Nike too much though, with the Edison Trends reporting that the ads had already generated a 27 percent online sales increase for Nike since Wednesday.
"Nike's online sales actually grew 31% from the Sunday of Labor Day weekend through Tuesday, as compared with a 17% gain recorded for the same period of 2017", Marketwatch adds.
Woods's comments come days after Nike unveiled its newest ad campaign featuring Kaepernick with the slogan "Believe in something, even if it means sacrificing everything" as part of its "Just Do it" campaign.
But a new report from Edison Trends, a top advertising research firm, shows that Nike's new commercial pushed all the right buttons.
The sportswear giant ran their new ad campaign featuring the former NFL quarterback, who has courted controversy for his protests against the American national anthem at games, on Monday.
In acts of bravery far, far more powerful than Kaepernick sacrificing his career to protest the killings of unarmed young black men by police, they heroically cut the Nike logos off their shorts and burned their trainers.
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College of the Ozarks, a private, Christian, liberal arts school, made a point of showing their patriotism a year ago when they revised their sports contracts to add a stipulation that respect for the American flag and national anthem must be shown by all players and coaches.
Nike, whose shares have dipped during the brouhaha, is making a calculated gamble, marketing experts say.
Davis said he believes Americans are growing exhausted of divisiveness and that Nike is "stirring controversy".
That ship likely has sailed for Kaepernick, as he now is suing the NFL for collusion between the league and its owners to keep him out of football.
I think this caught everyone by surprise, both supporters and critics of Kaepernick.
Two weeks ago, Woods was asked about his relationship with President Donald Trump, who has spoken out against the National Football League and the protests.
I'm not the first to draw these conclusions, but two things seem to be happening here: One is that Nike sees supporters of Kaepernick as a demographic to whom they want to appeal.