Phil Knight to step down from role as Nike chairman

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Oregon football's most recognizable benefactor, Phil Knight, is stepping down as the chairman of Nike.

Knight donated $10 million to build an indoor practice facility for the Ducks in the late 1990s. He also had a significant hand in the building of the Ducks' football performance facility, a renovation to Autzen Stadium and a new basketball arena as well. USA Today reported in December that Knight's aggregate contribution to Ducks athletics is in excess of $300 million.

With help from Knight, Oregon football has grown into a top power, and reached the national championship game for the second time in its history at the conclusion of last season (Oregon also played for the title to close out the 2010 season).

Nike is also the official outfitter of NFL uniforms. Knight is endorsing Nike President and CEO Mark Parker as his successor. Nike Inc. said it expects to name Knight's replacement as chairman in 2016.

According to Nike, its annual revenue has risen to $30.6 billion.

Follow Chase Goodbread on Twitter *@ChaseGoodbread*.

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