adidas’ Contract With The NBA Will Not Be Renewed [Details]
adidas announced this week that after their 11-year long contract (reportedly worth $400 million) with the NBA expires following the 2016-17 season, it will not be renewed. The company is now number 3 in sportswear apparel, surpassed by Nike at the top, and Under Armour at number 2.
adidas spokeswoman Lauren Lamkin says in a statement:
“While we have enjoyed a successful long-term relationship with the league, we continually review our partner agreements to ensure they are meeting our investment and delivering on our brand and business needs.
We are re-imagining and reshaping our business and have evolved our strategy to look at new, cutting-edge ways to drive our brand and support our business over the long term. We will invest more in telling stories that matter to our consumer, building category-disrupting innovative products, reinvigorating youth basketball with our new Next Generation programs and doubling our roster of professional athletes to authenticate our brand on-court.”
NBA spokesman Mike Bass said the league had no comment. Do you think Nike will be taking over?