The Latest: Country singer John Rich blasts Nike

NEW YORK (AP) — The Latest on Colin Kaepernick's Nike deal. (all times local):

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12:45 p.m.

Country singer John Rich of Big & Rich is criticizing Nike for hiring former San Francisco 49ers quarterback Colin Kaepernick for a new ad campaign and posted a picture of cut up Nike socks.

Rich tweeted on Monday night that a member of his crew cut the trademark swoosh off his socks and that he was also planning to burn them. Kaepernick began a wave of protests by NFL players two seasons ago, kneeling during the national anthem to protest police brutality and racial inequality.

In a series of tweets that continued Tuesday, Rich, who was also on "The Celebrity Apprentice," said he supported the right to protest, but that Nike lost his support when they endorsed Kaepernick.

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9:35 a.m.

Nike's stock is falling in early trading on Tuesday following an announcement that former San Francisco 49ers quarterback Colin Kaepernick has a new deal with the athletic clothing and footwear maker.

Kaepernick's attorney, Mark Geragos, made the announcement on Twitter, calling the former San Francisco 49ers quarterback an "All American Icon."

Kaepernick already had a deal with Nike that was set to expire, but it was renegotiated into a multiyear deal to make him one of the faces of Nike's 30th anniversary "Just Do It" campaign, according to a person familiar with the contract.

The NFL and Nike extended their partnership in March to run through 2028. Nike provides all NFL teams with game-day uniforms and sideline apparel that bears the swoosh logo.

Shares of Nike Inc. dropped 2 percent.

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