Tung Wing Ho and Jason Keating changed their pleas Tuesday, the same day their trial was scheduled to start.
Ho was a promotional product manager for Nike's basketball division. He generated interest in Nike products by providing unique sneaker designs to famous players such as LeBron James.
Ho admitted he ordered extra pairs and then stole them when they arrived at Nike headquarters in Oregon.
Keating is a Florida man who sells rare sneakers to private collectors. Authorities say that between 2012 and 2014, Keating paid Ho and another conspirator $680,000 for more than 630 pairs of the stolen basketball shoes.