adidas chooses to not renew NBA deal

Sportswear giant adidas has declined to renew an apparel contract with the National Basketball Association, letting a 10-year deal expire at the end of the 2016-2017 season.

The brand has been the apparel supplier for the league since 2006, as part of an 11-year deal worth an estimated $400 million.

adidas has reported weaker sales in the U.S., badly trailing Nike and falling to third place last year in the market behind Under Armour

With adidas out, Nike and Under Armour are expected to jostle for the contract.



Image credit: BleacherReport