The California lawyer was charged in March after he met with Nike attorneys to discuss claims by his client, a youth basketball coach, that the company bribed top players to attend colleges with Nike-sponsored teams.
The lawyer was accused of seeking to extort more than $20m (£15m) from Nike.More news: Coronavirus: Woman diagnosed in London went to A&E in an Uber
He'll go on trial again in April on NY charges that he stole a book advance intended for Daniels, who fired him.
He remains held without bail.
Defense counsel had strongly denied that money was a factor in the case, saying Avenatti's price tag for helming an internal probe was a bargain, saying such probes cost more than $100 million.More news: Trump thanks Justice Department for softening sentence request for ally Roger Stone
Avenatti gained prominence by making frequent cable television appearances in 2018 and 2019 as journalists courted him for information about Daniels, who sued Trump to void a nondisclosure agreement in which she was paid $130,000 by Trump's then-attorney Michael Cohen to keep quiet about an alleged sexual encounter with the future president in 2006.
"The verdict speaks volumes", Nike said in a statement today.
Avenatti's legal problems may only grow. In addition to the Nike charges, Manhattan federal prosecutors accused him of swindling Daniels out of almost $300,000 for a book deal.
After Mr. Avenatti threatened to expose the alleged payments in a news conference, Nike's lawyers contacted the Manhattan U.S. attorney's office, setting off a fast-paced criminal investigation in which Boies Schiller lawyers recorded conversations with Mr. Avenatti, recordings that were played at trial.More news: Storm Dennis: Events cancelled and warning for Thetford Forest | Weather
They had looked up firms that had "successfully sued Nike" and said it was time to "go after Nike". defense attorney Scott Srebnick said in closing arguments.