Nike has lost more than $ 1 billion after a bizarre basketball league event.

Shares in the company plunged 1.7 percent after a shoe rupture of rising star Xion Williamson during a match between Duke Blue Devils and North Carolina Tar Hills.

The incident caused the knee injury and sparked controversy after millions saw him on the line.

Zion's Nike shoe rip in slo-mo pic.twitter.com/UYQuoDMxq5

- Darren Rovell (@darrenrovell) February 21, 2019

Among those present in the room was former US President Barack Obama, who seemed surprised after the incident.

"His shoe broke."

President Barack Obama knew what was happening as soon as Zion Willamson went down

🎥 @ChaseHughesNBCS pic.twitter.com/7sneMhzlOD

- SB Nation (@SBNation) February 21, 2019

Williamson is one of the most promising talents to be expected in the bright future of the professional league (NBA).