Nike Chairman Steps Down

One of the most powerful men in sports will be stepping away as chairman of Nike.Since 1968, Phil Knight has been the director of Nike. In the beginning Knight sold his first pairs of shoes out of an old Plymouth Valiant while traveling the same Pacific Northwest track circuit on which he once competed. Just as recently as Thursday, Nike announced its annual profit grew 22 percent to $3.27 billion and its revenue rose 10 percent to $30.6 billion. Knight is currently listed as the 35th richest person in the world and 21st richest person in the U.S. by Forbes. He attended the University of Oregon and has donated millions of dollars to the school and its successful athletic programs, including the Oregon Ducks football team. "Uncle Phil" as he has been nicknamed on the campus, has helped Oregon Football become a national powerhouse in college football. Much of that has had to do with the incredible state of the art facilities like the one showcased below. The 76 year old Knight said he wants Nike president and CEO Mark Parker, who has held those positions since 2006, to succeed him. No specific date was set for Knight's departure, though he said he plans to stay involved in the business. Nike will officially announce the new chairman in 2016.