Nike, Reebok settle Tim Tebow apparel dispute

NEW YORK (Reuters)—Nike Inc. and Reebok International Ltd. 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 the Tebow name that was sold last month. Reebok also agreed to offer to buy back such apparel already shipped to retailers.

Reebok is a unit of Germany's Adidas A.G. Nike, Reebok and both companies' lawyers did not immediately respond to requests for comment.