Nike is ending a 13-year deal to manufacture Manchester United’s football kit.<\/p>\n
In a statement, the American sportswear company said “the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders”.<\/p>\n
It is thought that either Germany’s Adidas or Warrior will replace them.<\/p>\n
Manchester United did not qualify for this season’s Champions League for the first time in 19 years.<\/p>\n
The club suffered its worst ever Premier League finish last season after manager Sir Alex Ferguson left following 26 years in the job.<\/p>\n
His successor, David Moyes, lasted just 10 months and Dutch manager Louis van Gaal takes over following the Netherlands’ World Cup campaign.<\/p>\n
Nike first signed the deal with the club in 2002 and on Monday unveiled a new kit for the 2014-15 season. It will be the last one bearing the Nike logo.<\/p>\n
Nike said: “Manchester United is a great club with passionate fans.<\/p>\n
No Champions League football will cost \u00a350m- 10% of annual revenue – Deloitte<\/p>\n
“Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders.<\/p>\n
“We look forward to a successful final season with the club.”<\/p>\n
United’s existing deal with United States firm Nike is worth \u00a324m a year. As part of that agreement they were given a period of exclusivity to negotiate an extension and also retained the right to match any other offer.<\/p>\n
But the company has decided against exercising either option.<\/p>\n
A figure of \u00a3600m over 10 years has been discussed with the remaining bidders, which would dwarf the reported \u00a331m a season Adidas pays to Real Madrid.<\/p>\n
They have signed a number of sponsorship deals, including an agreement to rename their Carrington training ground.<\/p>\n
–<\/p>\n
Source: BBC Sport<\/p>\n","protected":false},"excerpt":{"rendered":"
Nike is ending a 13-year deal to manufacture Manchester United’s football kit. In a statement, the American sportswear company said “the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders”. It is thought that either Germany’s Adidas or Warrior will replace them. Manchester United did not qualify […]<\/p>\n","protected":false},"author":20,"featured_media":30719,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[29,3,138,1603],"class_list":["post-30711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dr-mahamudu-bawumia","tag-ghana-news","tag-stonebwoy","tag-university-of-education"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30711"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/30719"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}