WASHINGTON - Sportswear giant Adidas announced this week that it will not renew its contract with the NBA as the official kit supplier, changing the investment strategy to players shoes.
Adidas has provided apparel for the NBA since 2006 and its 10-year deal worth an estimated $400 million, expires at the end of the 2016-2017 season. With Adidas out, Nike and Under Armour are expected to battle it out for the contract.
Adidas will instead invest in new products, youth basketball and expect to double the number of basketball players who wear its shoes on court from 70 players to 140 players in the next five years.
"We feel with a different investment strategy, we will be more successful," an Adidas spokeswoman said. "We want to put a bigger focus on players in our shoes."
Nike and its Jordan Brand subsidiary commanded 95.5% of the $4.2 billion basketball shoe market last year, according to SportScanInfo. Adidas and Under Armour fought for the remaining market.
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