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Adidas won’t bid to renew NBA deal

Sportswear company Adidas has decided against renewing its contract to supply kit to the NBA basketball league in North America.

Adidas has provided apparel for the NBA since 2006, but its 11-year deal will expire at the end of the 2016-17 campaign. The league told Adidas last week that it was open to signing up a new partner, with the sportswear company’s falling market share in the US and the upcoming change of chief executive two reasons for the decision, according to the Reuters news agency.

Adidas has been losing market share in the US to rivals Nike and Under Armour while the last month the company confirmed that it had started the search for a successor to chief executive Herbert Hainer, who will step down in 2017. Adidas plans to switch its focus to new products and youth basketball, Reuters added.

“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 Lamkin said. “We are re-imagining 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 programmes and doubling our roster of professional athletes to authenticate our brand on-court.”