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.
Write for GiveMeSport! Sign-up to the GMS Writing Academy here: https://gms.to/1a2u3KU
DISCLAIMER: This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.