Nike has reached a 12-year contract extension agreement with the NBA and WNBA to continue to be the official global outfitter for the professional basketball leagues, sources told ESPN on Monday, a pact that includes a marketing and content partnership.

The extension comes at a critical time. The company earlier this month withdrew its full-year guidance and postponed its first investor day in seven years.

Nike will design and manufacture team uniforms, on-court apparel and fan merchandise for a further 12 seasons.