Sportswear Maker Adidas Out as NBA Supplier Martin Rose/Getty Images

Sportswear Maker Adidas Out as NBA Supplier

Adidas have indicated they want to individually sponsor 500 new athletes in sports such as basketball, football and baseball.

BERLIN – Adidas (IW 1000/231), the German maker of sportswear and equipment, confirmed Monday they will not renew their contract with the American Basketball Association (NBA) when it expires at the end of the 2016-2017 season.

The German giants have had a deal with the NBA since 2006 when they took over the contract held by Reebok (IW1000/610) which Adidas purchased for three billion euros.

But Adidas has seen its share of the U.S. market continually shrink and they are now third behind Nike (IW 500/44) and Under Armour (IW 500/349).

"We have decided to not renew our partnership as official outfitter of the NBA after our current contract expires following the 16-17 season," Adidas said in a statement.

"We are 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."

As part of a strategic re-positioning, details of which will be unveiled next week, Adidas have indicated they want to individually sponsor 500 new athletes in sports such as basketball, football and baseball.

Copyright Agence France-Presse, 2015

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