Adidas Not Renewing NBA Apparel Deal?

Adidas announced on Monday that it has decided not to pursue an extension to its official apparel deal with the NBA, which expires at the end of the 2016-17 season.

As Adidas slipped to the third biggest shoe and apparel business in the United States in 2014 — the brand was surpassed by Under Armour — the NBA made inquiries about the next deal. With two full seasons left on its current deal, Adidas announced it would pull out of future bidding.

“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,” Adidas spokesperson Lauren Lampkin said in a statement.

“We are reimagining 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.”

via Darren Rovell – ESPN.