Sports Biz with Darren Rovell

Nike Sacks Vick

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On the day that Atlanta Falcons quarterback Michael Vick pled guilty to charges related to dogfighting, Nike announced on Friday night that it has ended its relationship with its former endorser.

"Nike has terminated our contract with Michael Vick following today's release of details of his plea," Nike said, in a statement. "As we have said in previous statements, we consider any cruelty to animals inhumane, abhorrent and unacceptable."

Nike is the last company to have a relationship with Vick. Air Tran announced it would not re-sign the star, as did Rawlings.

The company suspended the release of Vick's new signature shoe, which was due to hit stores this week, and then eventually suspended his contract.

Sources tell CNBC that Nike will owe no money to Vick for terminating him as his contract specified that the company had that right if he were ever indicted.

In a poll on, readers voted that Nike should terminate Vick.

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