adidas moves on

adidas is bowing out of the NBA wars. The official apparel sponsor of the league released a statement to reporters saying that the brand will not renew with the NBA following the 2016-17 season. The news comes after the NBA informed the company that it would open up bidding to other brands with Nike and Under Armour the likely favorites to step up into the role. The company has been the league’s apparel partner since 2006 via an 11-year deal for a reported $400 million.

“We have decided to not renew our partnership as official outfitter of the NBA after our current contract expires following the 16-17 season,” the adidas statement read. “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.

“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 programs and do

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