NFL Star Odell Beckham Jr. Suing Nike Over Endorsement Contract Dispute: 'Extremely Disappointed'

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NFL player Odell Beckham Jr. is suing Nike, alleging the sportswear giant "did not honor its commitments" after signing him to an endorsement contract.

The 30-year-old wide receiver explained his reasoning for the suit in a lengthy message posted to his Twitter account and shared with PEOPLE on Monday, saying he is "extremely disappointed" in the development.

"Being a Nike Athlete and Brand Icon was a dream I've had since being a young boy. I wanted to be the next Michael Jordan, Bo Jackson, LeBron James or Kobe Bryant in the Nike Family," Beckham Jr. wrote in the message.

"When Nike exercised its right of first refusal to match the Adidas offer and not only kept me as a Nike Athlete, but also made me one of their Brand Icons — my dream had been fulfilled," he added.

According to Yahoo Sports, Nike resigned Beckham to a deal in 2017 when he was close to agreeing to a new partnership with Adidas, one of the company's longtime rivals. Nike kept Beckham Jr. by matching Adidas' offer.

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"Unfortunately, Nike did not honor its commitments," Beckham Jr. alleged in his message. "Throughout our partnership, I have kept my promise and fulfilled my obligations to the brand. I am extremely disappointed that I've had to take these measures to ensure Nike fulfills their obligations and promises."

It continued: "Today, I'm taking a stand not just for me, but to set a precedent for all athletes who have dedicated their life to the sport they love — especially those who don't have the means to stand up for themselves. We are held responsible for fulfilling our obligations under our contracts, but we also have to hold powerful companies like Nike accountable for honoring their commitments too... I look forward to resolving this issue and hope we can start a real conversation about protecting athletes and their rights. This happens too often in the sports industry and it's time for change."

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Per TMZ, citing court documents, Beckham Jr. claimed he was due to be paid $2.6 million in March, but Nike allegedly held back more than $2 million of the payment. Beckham Jr. said he learned that Nike did not pay him after he altered his footwear and gloves near the end of last season.

PEOPLE reached out to Nike and Beckham Jr.'s attorney, Daniel Davillier, for comment on Tuesday afternoon.

Beckham Jr., a free agent, last played for the Los Angeles Rams and helped the team win a Super Bowl in February.

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It was during the Super Bowl that Beckham tore his ACL, and he has not played in a game since.

ESPN reported last week that he could announce his next team before the end of November.