Nike drops former Cleveland Browns quarterback Johnny Manziel

Johnny Manziel's career has gone from bad to worse.

Nike confirmed to CNBC on Tuesday that the former Heisman Quarterback was no longer a Nike athlete.

The news comes on the same day that Manziel's second agent, Drew Rosenhaus, terminated his contract with the former Cleveland Browns quarterback.

Rosenhaus told CNBC that he no longer represented Manziel after giving him a 5-day ultimatum to seek treatment that went unanswered.

Nike's decision to drop the troubled free-agent is believed to have been communicated to him some months ago. Manziel first became a Nike athlete a month before the 2014 draft.

Financial terms of his deal with Nike were not disclosed, but sources told CNBC that it was believed to be one of the highest prices paid for a rookie in the season's class.

Manziel had already been released by the Cleveland Browns on March 11 after numerous off-season issues. He remains a free-agent.

Manziel was drafted in the first round of the 2014 Draft as the 22nd pick by the Cleveland Browns.

After leading Texas A&M, the nationally recruited quarterback reportedly received sponsorships bids from Adidas, Under Armour and New Balance.

"Johnny Football," at one time represented big brands such as McDonalds, Snickers and Nissan.

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