Adidas has been under fire as of late with their stock not performing well and having lost the #2 spot to David-like Under Armour, it appears that adidas is heading back to the drawing board and sharpening their pencils after the NBA announced that it would open bidding to other companies. (I guess Commissioner Adam Silver and company are shook that adidas has slipped to #3 and are now looking for a new CEO.)
Word on the Street is that Nike and Under Armour have expressed interest in becoming the official apparel sponsor of the NBA and we could see a bidding war that could reach an epic level.
“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 statement said. “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 doubling our roster of professional athletes to authenticate our brand on-court.” ~ USA Today