Nike and Reebok settle NY fight over Tebow apparel

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NEW YORK (AP) -- Reebok has thrown in the towel in its effort to sell New York Jets Tim Tebow jerseys and T-shirts. The terms of a settlement with Nike were disclosed Tuesday.

Reebok must eliminate from the sales chain any Tebow clothing it manufactured after the quarterback's trade last month from the Denver Broncos to the Jets.

Nike had sued in Manhattan, saying Reebok was infringing on its licensing rights.

A federal judge had said Nike Inc. was likely to succeed. Nike took over licensing rights for National Football League apparel at the beginning of April.

Both companies say they're "pleased to have reached a mutually agreeable resolution."