Report: Nike terminates Ray Rice's endorsement contract

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Nike has terminated Ray Rice's endorsement deal, according to ESPN's Darren Rovell.

On Monday, Rice was released by the Ravens and suspended indefinitely by the NFL after TMZ released a video of Rice punching his then-fiancee and knocking her unconscious.

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"Most football shoe deals are nominal in cost," Forbes' Matt Powell wrote Monday. "Nike did not use Rice much in marketing, so there is no real loss there."

Nike is also the official uniform supplier of the NFL.

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The Ravensannounced Tuesday they would allow fans to exchange Rice jerseys at the team store.

- Dan Gartland