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Nike Suspends Michael Vick Shoe: Right Step To Take? (Update)

Michael Vick
AP
Michael Vick

Nike has a new statement out, which I have just received. They are suspending the release of the Vick V shoe,which was scheduled to be in stores on Aug. 23. Here is the text:

"Nike is concerned by the serious and highly disturbing allegations made against Michael Vick and we consider any cruelty to animals inhumane and abhorrent. We do believe that Michael Vick should be afforded the same due process as any citizen; therefore, we have not terminated our relationship. We have however made the decision to suspend the release of the Zoom Vick V and related marketing communications. Nike will continue to monitor the situation closely and have no further comment at this time."

While I originally thought that Nike could still come out with this shoe quietly, after a day full of news and reaction, I realize that this is the right decision. They have to do this. And I'm sure there won't be one retailer that will be upset with Nike's judgement.

Update: The decision to suspend the launch of Michael Vick's new training shoe was a no-brainer. Sources tell me that, if the shoe never comes out, Nike will lose less than $1.5 million. Assuming Nike sells the shoes to retailers for half of the retail price ($100), that would mean that there are about 30,000 pairs of shoes that were prepared to hit the shelves. Vick's training shoes are made in fewer numbers than the Vick cleats, which are already on the market and will stay on the market.

Questions? Comments? SportsBiz@cnbc.com