Why Nike Is Exiting One Of The Most Lucrative Sponsorships In Sports
Manchester United is a great club with passionate fans. We are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the 2014/15 season. 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. We look forward to a successful final season with the club.
Enter Adidas. The apparel maker reportedly is ready to pony up 60 million British pounds ($100 million) per season for the next 10 years to put its stripes on Man U's kit. If true, the deal would represent an approximately 50 percent premium to what Nike reportedly paid the famed club this last season.
Not coincidentally, Nike and Manchester United released the team's newest kit this week. Here is a look at what is up for grabs as negotiations continue between Nike, Adidas and Manchester United.