The 20-year-old was arrested over the alleged rape and assault of a young woman last month after images and videos were posted online.
Within hours of the allegations appearing, Manchester United announced the England international was suspended from playing or training with them.
On Monday, a Nike spokesperson confirmed to The Athletic: “Mason Greenwood is no longer a Nike athlete.”
The sportswear firm initially suspended its deal with Greenwood after his arrest last week, saying it was “deeply concerned by the disturbing allegations.”
Meanwhile, United have confirmed that fans can exchange a shirt with ‘Greenwood’ on the back for a replacement with a different player’s name on it.
An email to online shoppers read: “We can confirm that United Direct and adidas customers who purchased a Manchester United shirt that was personalised with Greenwood’s name and number have the opportunity to exchange it for this season’s home shirt personalised with another player’s name without charge.”
Greenwood has also been removed from versions of the FIFA 22 game.
In a statement, video game company Electronic Arts said: “Mason Greenwood has been removed from active squads in FIFA 22 and has also been suspended from appearing in FIFA Ultimate Team (FUT) packs and Ultimate Draft.”