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    Adidas to end NBA partnership after 2016-2017 season

    By SHOOTUpdated:No Comments663 Views
    Washington Wizards guard John Wall (2) passes the ball under the basket as he is covered by Sacramento Kings guard Ben McLemore (23) in the first half of an NBA basketball game Saturday, March 14, 2015, in Washington. (AP Photo/Alex Brandon)

    By Brian Mahoney, Basketball Writer

    NEW YORK (AP) --

    NBA teams will no longer be outfitted by Adidas after the 2016-17 season, as the shoemaker and sports gear company said Monday it wouldn't renew its partnership with the league.

    The league had already informed Adidas that it was opening the bidding for the next contract, according to a person familiar with the process. The NBA is to expected to announce a new partnership sometime around its Board of Governors meeting next month, the person told The Associated Press on condition of anonymity because details are still being finalized.

    But Adidas, which has slipped to No. 3 in sporting apparel sales in the U.S., behind Nike and Under Armour, said in a statement that it wouldn't bid.

    The company, based in Herzogenaurach, Germany, said that "while we have enjoyed a successful long-term relationship with the league, we continually review our partner agreements to ensure they are meeting out investment and delivering on our brand and business needs."

    Adidas became the exclusive outfitter for the NBA, WNBA and NBA Development League in 2006 under an 11-year deal. Adidas supplies the NBA with uniforms and holds the rights to NBA-branded merchandise worldwide.

    It also has individual endorsement deals with top NBA players such as Chicago's Derrick Rose, Houston's Dwight Howard and All-Stars Damian Lillard of Portland and John Wall of Washington.

    Global brands head Erich Stamminger left the company last year and CEO and Chairman Herbert Hainer had recently announced he would step down, leadership shake-ups that could have created uncertainty for the NBA.

    That could leave the door for Nike, the partner before Adidas, to move back in, or Under Armour, which has seen its basketball business grow thanks to the success of Golden State star Stephen Curry.

    Tags:AdidasNBA



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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