The ad campaign spurred controversy, with some consumers going as far as to burn their Nike merchandise.
Davis said he believes Americans are growing exhausted of divisiveness and that Nike is "stirring controversy".
The ad aired during the first commercial break in the third quarter of the Eagles-Falcons game on Thursday night.
While some may debate whether Kaepernick's conduct is uniquely American (it is), there's nothing more American than Nike's deliberate, strategic pursuit of the almighty dollar.
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The "take a knee" protests, which caught on with other National Football League players and spread to athletes in other sports, were viewed by some (including President Trump) as unpatriotic and disrespectful to veterans.
He said Nike didn't consult his opinion on the ad that featured Kaepernick. I wonder if they had any idea that it would be this way?
Two-time Academy Award victor James Woods publicly dropped stock in the company and encouraged others to do the same.
During the interview, Falwell told USA Today he didn't know the exact terms of the deal with Nike and what would justify termination.
The former 49er quarterback sacrificed his career with the simple act of taking a knee to protest the brutality that certain police departments around the nation have inflicted on the African-American community.
"Nike is getting absolutely killed with anger and boycotts", Trump tweeted Wednesday.
Iguodala, a long-time Nike athlete, has never been shy in speaking about social issues, and this isn't the first time he's shown his support for Kaepernick and the brand and what they stand for.