Nike might be the biggest brand caught up in the corruption scandal currently enveloping world soccer, but analysts predict only a limited impact for the sportswear brand.
Swiss police on Wednesday detained high-ranking officials from soccer governing body FIFA as part of a U.S. investigation into corruption.
But a 161-page document released by the Department of Justice (DOJ) doesn't just have far-reaching implications for FIFA – it also claims that a multinational sportswear company headquartered in the U.S. was involved in "bribes and kickbacks" used to sign a sponsorship deal with the Brazilian national soccer federation in 1996.
Nike, however, insisted to CNBC in an emailed statement that the indictment did not allege that Nike had engaged in criminal conduct.
"There is no allegation in the charging documents that any Nike employee was aware of or knowingly participated in any bribery or kickback scheme," a spokesperson said.