Nike have announced that they will not renew their sponsorship contract with Manchester United, and that this coming season will be their last with the 13-time Premier League champions.
Nike have been the Old Trafford club’s apparel sponsor since 2002. Nigel Powell, a Nike spokesman, explained the reason for not sticking with Man United beyond next season.
Manchester United is ‘a great club with passionate fans’, Powell said. ‘We look forward to a successful final season with the club’
‘Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders’.
According to the Wall Street Journal, Adidas are looking to capitalise and have put forward a $100m-a-year offer to become the Red Devil’s new sponsor for the coming decade.
Nike and Adidas are the world’s largest football brands, occupying over 90% of the football shoe market globally. Should the Manchester club accept this Adidas offer, it will be the largest apparel sponsorship deal in the history of sport.
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