The 30-year-old Australian-born guard, who signed with Nike in 2011 shortly after becoming the number one pick in that year's NBA draft, tweeted a link on October 27 to a film that denied the Holocaust occurred and claimed that Jewish people worship Satan.

"At Nike, we believe there is no place for hate speech and we condemn any form of anti-Semitism," the Oregon-based company said.

Irving, who has made a reported $11 million (£9.6 million/€11 million) each year from his Nike endorsement, which includes a series of signature shoe releases, was expected to have his latest shoe, the Kyrie 8, launched next week - but that will no longer take place, as reported by abc.net.au.

"We've made the decision to suspend our relationship with Kyrie Irving effective immediately and will no longer launch the Kyrie 8," Nike added.

"We are deeply saddened and disappointed by the situation and its impact on everyone."

Nike's decision came a day after the Nets handed down their suspension, which will last at least five games, and after NBA Commissioner Adam Silver said he wanted an apology from Irving over his decision to post a link to the documentary Hebrews to Negroes: Wake Up Black America - a film that contains anti-Semitic material.