Washington, D.C. 20549

                                 FORM 8-K

                              CURRENT REPORT
                    Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

   Date of Report (Date of earliest event reported): October 25, 2002

                                 NIKE, INC.

          (Exact Name of Registrant as Specified in Charter)

       Oregon                  1-10635                 93-0584541
    ____________             ____________             ____________

   (State of                  (Commission            (I.R.S.Employer
   Incorporation)            File Number)          Identification No.)

                             One Bowerman Drive
                         Beaverton, Oregon 97005-6453

                   (Address of Principal Executive Offices)

                               (503) 671-6453

             (Registrant's telephone number, including area code)



Today NIKE, Inc. issued the following press release:


Beaverton, OR (October 25, 2002) - Nike, Inc. (NYSE, NKE) announced
today that it has reached an agreement to settle the securities class
action lawsuits that have been consolidated under the caption In re
Nike, Inc. Securities Litigation, Master File No. CV-01-332-KI in the
United States District Court for the District of Oregon.  The
agreement is reflected in a memorandum of understanding, and must be
incorporated into more complete settlement documentation and approved
by the court.  Nike will pay $8.9 million in cash, which will be
funded by the Company's directors and officers liability insurance.
In the agreement, Nike and the officers and directors named in the
lawsuits do not admit, and continue to deny, any and all allegations
of wrongdoing, and that they will receive a full release of all claims
asserted in the litigation.

     NIKE, Inc., based in Beaverton, Oregon, is the world's leading
designer and marketer of authentic athletic footwear, apparel,
equipment and accessories for a wide variety of sports and fitness
activities.  Wholly owned NIKE subsidiaries include Bauer NIKE Hockey
Inc., the world's leading manufacturer of hockey equipment; Cole Haan
(registered), which markets a line of high-quality men's and women's
dress and casual shoes; and Hurley International LLC, which markets
action sports and teen lifestyle apparel.

     NIKE's earnings releases and other financial information are
available on the Internet at

      Precautionary Language Regarding Forward-Looking Statements

     This press release contains statements, including those
describing the terms and consummation of the settlement agreement
described above, that constitute forward-looking statements within the
meaning of Section 21(E) of the Securities Exchange Act of 1934.  The
statements are subject to certain risks and uncertainties, including
but not limited to the risk that the settlement may not be approved by
the court, or might not be consummated for other reasons, and the risk
that a significant number of investors covered by the settlement may
"opt out" of the agreement and pursue separate claims against the
Company and/or the individual defendants.  Nike undertakes no duty to
update any of the statements set forth in this release.


     Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                          NIKE, Inc.

Date:  October 25, 2002
                                         /s/ Donald W. Blair
                                         By: Donald W. Blair
                                           Chief Financial Officer