Nike and Reebok Settle Tebow Apparel Lawsuit

Nike and Reebok have settled a lawsuit over the right to sell New York Jets football apparel bearing the name of the Jets' new quarterback, Tim Tebow. According to a final judgment made public on Tuesday by U.S. District Judge Kevin Castel in Manhattan, Reebok agreed to stop selling Jets-related apparel with Tebow's name on it. Reebok also agreed to buy back such apparel already shipped to retailers. Reebok's licensing agreement with the National Football League ended March 31, and Beaverton, Ore.-based Nike became the official supplier of licensed NFL apparel this month.