Elliot Hill, Nike’s CEO, is traveling globally to rebuild sports partnerships after years of brand dilution. His first stop: Monaco’s Stade Louis II, where he met with Paris Saint-Germain’s soccer team owner Nasser Al-Khelaifi. The talks hinted at potential roster changes, underscoring Nike’s urgency to regain influence. The $93 million annual uniform deal with PSG highlights the stakes—Nike’s longest soccer contract is now under scrutiny.

Hill’s strategy contrasts with predecessor John Donahoe’s e-commerce focus, which alienated athletes and leagues. Under Donahoe, Nike prioritized online sales, leading to product stagnation and athlete defections like Tiger Woods and Simone Biles. By 2023, sales plummeted, prompting a $2 billion cost-cutting plan. Hill, a former athletic trainer, is reversing this by emphasizing in-person diplomacy, starting with the NFL’s renewed 2038 uniform deal. He’s restructured Nike around sports, merging teams to focus on individual disciplines like tennis and skateboarding.

Recent efforts show promise: Nike’s latest quarter saw a 1% sales rebound, driven by North America. At FC Barcelona, Hill praised star Gavi’s custom Nike boots, signaling a renewed athlete-centric approach. Soccer, alongside basketball and running, is now a top priority, with Barcelona’s women’s team receiving personalized attention. These moves aim to counter competitors like Adidas, which have capitalized on Nike’s missteps.

Hill’s success hinges on balancing legacy sports ties with modern consumer trends. While critics question his timing, the NFL’s extended partnership and soccer’s star power offer a blueprint. As one analyst noted, Nike’s revival depends on “doing more with less”—a mantra from its darkest hours.