Nike will not renew a long-running kit supply deal with Manchester United because of the growing costs of a new contract, sources told Reuters. Adidas is expected to sign a deal with the English soccer club
Manchester United earned around £38 million ($64.7 million) from the Nike deal in 2012-13, including its share of profit from the sale of merchandise around the world, according to Reuters.
Nike has been supplying United's famous red shirts since 2002, but the current agreement expires next year. Its withdrawal is expected to clear the way for the club to sign a lucrative new deal with German sportswear company Adidas.
The Reuters report is here.
