Washington, DC 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): July 26, 2007.

                                 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)

                                NO CHANGE
        (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17
    CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))


Item 5.02(e)   Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers

     On July 26, 2007, NIKE, Inc. and Donald W. Blair, Vice President and
Chief Financial Officer, agreed to terminate an employment offer letter
between Mr. Blair and us dated as of November 1, 1999 (the "Agreement").
The Agreement, which was executed in connection with Mr. Blair's
commencement of employment at NIKE, described the initial terms of Mr.
Blair's compensation, and provided in part that if Mr. Blair was terminated
by us other than for cause, we must pay to him (a) a lump sum equal to his
then-current annual base salary, (b) monthly payments of his then-current
monthly salary for twelve months, and (c) two times the amount of bonus he
would have earned for such twelve-month period.  The Agreement had been
substantially performed or superseded, except for such severance provision.


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:  July 27, 2007

                                         By: Donald W. Blair
                                             Chief Financial Officer