Nike walks away from Manchester United kit deal

US SPORTSWEAR brand Nike is ending a 13-year relationship with Manchester United.

In a statement, Nike 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 up and coming brand Warrior – which has a deal with Liverpool FC –  will replace them.

It is thought that despite not qualifying for the forthcoming season’s Champions League competition for the first time in 19 years, United want a record £60m a year over 10 years for the deal.

Nike first signed a partnership with the club in 2002 and this week unveiled a new kit for the 2014-15 season. It will be the last one bearing the famous ‘swoosh’ logo.

Nike said: “Manchester United is a great club with passionate fans. 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.

“We look forward to a successful final season with the club.”

United’s existing deal with Nike is worth £24m 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.

But the company has decided against exercising either option.

If the reported figures of  £600m is accurate, it  would dwarf the estimated £31m a season Adidas pays to Champions League winner Real Madrid.