Two years after our first “Foul Play” report,1 the sponsorship battle between Nike and Adidas—who will outfit 22 of the 32 teams taking part in the next World Cup—has never been so fierce and has set new records. Nike and Adidas have in this way become masters in the creation of value, on the one hand thanks to greater and greater investment in sponsorship and, on the other, thanks to the convergence of the worlds of fashion and sports; through these models, they have been able to double their revenues in less than 10 years. At the same time, their ability to create profit rests just as much on their ability to control and decrease production costs.