In the wake of the controversy surrounding his social-media post about a book and movie containing antisemitic ideas, Nike has decided to suspend its relationship with Irving.
Irving's new shoe won't be launched by Nike.
The statement said that Nike condemns any form of antisemitism. The situation and its impact on everyone makes us sad.
Irving was suspended by the Nets on Thursday night for at least five games without pay because he failed to apologize for his post and clarify his antisemitic beliefs.
Irving apologized to all Jewish families and communities that were hurt by his post.
Irving's signature series with Nike has earned him a lot of money.
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