By Simon Evans

The term 'player power' is usually applied in relation to the increasing ability of players to ignore their contracts and demand a change of club - or in some cases to put pressure on a club to change coach. But perhaps we are entering an era where the popularity of individual stars is going to shape the market around the game.

This week Kylian Mbappé ended his nearly two-decade relationship with Nike — a partnership dating back to when he was nine years old — to become the face of Swiss challenger brand On's first push into football boots. The Athletic reports Mbappé has been given equity in On as part of the deal, on top of undisclosed cash terms, and that former France and Arsenal star Thierry Henry, who has been working in stealth mode as On's Director of Football since 2025, played a direct role in convincing him to sign once his Nike contract expired this summer.

In shunning Nike, Mbappé also passed over Adidas and Puma, the other two dominant football boot suppliers. Nike struck a gracious tone: “Kylian's journey with Nike began when he was nine years old... we are proud of what we achieved together on and off the pitch,” the company told The Athletic — but the loss lands at an already brutal moment, with Nike stock down more than 40% this year, near decade lows, and about to drop out of the S&P 100 after 18 years, amid slowing sales and continued weakness in China.

For On, it's the boldest signing in the 17-year-old Swiss company's history and a deliberate bet that a challenger can out-innovate the incumbents rather than compete on their terms. Founder David Allemann framed it explicitly that way: “Football doesn't need another sportswear brand to do more of the same. Football needs new ideas and a challenge to what is possible... With Kylian we have the perfect partner to dream what football can become.” Mbappé will work directly with On's product teams on football boots and apparel (due to hit retail in 2027), appear in On boots in EA Sports FC 2027 when it launches on September 25.

On is clearly hoping Mbappé can do for football what Roger Federer did for their presence in tennis — and Nike, already ceding ground this year with Emma Raducanu (to Uniqlo) and Martin Odegaard (to Adidas), is the incumbent absorbing the hit.

On aren't the only challenger to the Big Three in boots - Decathlon/Kipsta, Sketchers and New Balance are an increasing presence alongside longer term presences Mizuno and Reebok. None are likely to break into the top three anytime soon but it does mean the category is beocming less of a three-brand purchase decision. Endorsement switches like Mbappé's can have real impact on the market.

For clubs looking for deals for their kit supplier, the role of the player is less significant but there is a similar situation in terms of diversification- Castore and Hummel are making inroads in England; Macron, Joma and Kelme are strong in Spain while Italy sees 12 firms supplying the 20 Serie A teams - Nocta, EA7, Mizuno, Kappa, Zeus, Eye Sport and New Balance each have at least one club. In North America, MLS clubs are restricted by the league-wide deal with Adidas but in USL we see a meaningful challenger in Mexican firm Charly with Hummel having made strong inroads in recent years. Capelli Sport, less of a fashion focused brand having established itself in youth soccer, is still strong but many of the European brands are now competing for deals.

And with many clubs around the world starting to take leisurewear and fashionwear seriously as a revenue generator, how long until we start to see some club's develop their own brands and take full ownership over the entire process or as a first step set up a JV? Mbappé's deal with On - including the equity element could be viewed as something close to a JV between player and manufacturer.

All of this fragmentation and diversification increases the choices - and likely the leverage - for players and clubs looking for deals. Nike are the big losers from the Frenchman's decision but there could be many winners in the coming years as soccer's equipment market undergoes real change.