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Sports

Adidas to Give Up NBA Sponsorship

After 11 years of being the official apparel sponsor of the NBA, Adidas announced that it will not seek to renew its status after the 2016–2017 season.

According to several reports, the announcement came about a week after the League told Adidas that it would open the bidding to other brands like Nike and Under Armour.

Result: Renewing the license would have likely cost Adidas a lot more than the $400 million it paid in 2006 to secure it.

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