Nike will allow its swimmers to wear Speedo's LZR Racer instead of its own suit at the Beijing Olympics.
A Nike spokesman says the company feels it's fair to extend the offer it made in June allowing its swimmers to wear Speedo's suit at the US Olympic Trials.
Speedo's LZR Racer has caused major waves this year. Since its launch in February, swimmers have broken dozens of world records and athletes not sponsored by Speedo have clamoured to wear it.
It also caused some backlash. One Italian coach accused Speedo of technological doping and Tyr Sport sued Speedo in May, alleging in its lawsuit that the company conspired with the US swimming federation to stifle competition and lure top athletes away from other sponsors.
British-owned Speedo says the lawsuit is baseless.
