July 14, 2014
By Rick Horrow and Karla Swatek
Adidas is on the verge of signing a massive kit deal with EPL club Manchester United. The agreement is worth a reported $1.3 billion over ten years beginning in 2015, and more than doubles the current kit sponsorship deal ManU has with Nike. Nike had the opportunity to match Adidas’ offer, but declined to go as high as $100 million per year. It’s clear that Nike and Adidas are competing for global supremacy in the soccer apparel market. The ManU prize is especially valuable given the club’s new jersey sponsorship with Chevrolet.
But the battle between Nike and Adidas isn’t limited to the pitch. The two companies square off for talent on the hardwood as well. While Nike signed Milwaukee Bucks rookie Jabari Parker to an endorsement deal for the company’s Jordan Brand, Adidas landed the No. 1 overall pick Andrew Wiggins. However, estimates from last year that Wiggins could land a $15 million shoe deal were way off. His agreement with Adidas is worth $2 million annually.