Adidas, Herzogenaurach, Germany, has decided not to renew its apparel partnership with the NBA, New York; the entities’ current agreement will expire at the end of the 2016-17 season.
The NBA will open bidding for its apparel rights to new partners, according to an Associated Press report.
“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,” said Adidas spokesperson Lauren Lamkin in a statement.
In 2006, Adidas agreed to an 11-year deal — estimated to be worth $400 million, according to published reports — to become the exclusive outfitter for the NBA, WNBA and NBA Development League (NBDL).
However, Adidas has experienced recent leadership changes, with global brands head Erick Stamminger leaving the company last year and CEO and Chairman Herbert Hainer recently announcing plans to do the same.
The company still has individual endorsement deals with notable NBA players like Chicago’s Derrick Rose, Houston’s Dwight Howard and Portland’s John Wall.
For more information, visit adidas.com. — J.B.