Having a sports culture is fine until a company reaches a certain size and complexity. Then, you need business minds and analysts to move to the next level. Nike reached that stage about a decade ago.
I will also state that during my time at WHQ, many of the worst performing people (clueless, lacking business acumen, wasteful spenders, serial harassers) were the people hired simply because they played NCAA D1 sports. Many did not have a degree or barely earned their diplomas. They got hired because they played football at a PAC 12 school or ACC basketball and their jock pedigree / cool quotient was looked upon favorably. If you have worked at Nike you know who they are: 20 hours a week in the office doing half a**ed work, 12 hours at the gyms, 8 hours getting coffee/lunch/networking. Most galling was how some of them reached rather lofty positions despite their evident lack of merit.
Their days are numbered and these latest RIFs are purging the organization of their kind. PHK and MP protected too many for too long.