NEW YORK — Adidas announced today that it has agreed to a $50 million licensing deal with the NBA for basketball apparel, including NBA-branded shoes.
The deal is the largest ever of its kind with a value of more than $100 million and comes after years of talks between the two companies.
In a statement, Adidas CEO David Yurcich said: “This is a significant step in bringing a world-class brand to the NBA and to the fan base that supports them.
The collaboration with the league is a major win for us and our partners.
It represents a significant milestone in our relationship with the game and for our fans.
I’m very excited about this opportunity to grow our business and bring an exciting new generation of NBA fans to adidas.”
The deal also includes a licensing partnership with Nike, which will use the Adidas logo on Nike basketball gear and apparel.
Adidas will work with Nike on its signature shoes, as well as apparel, while Nike will also produce and market the products.
It is the first time that Nike has worked directly with the basketball apparel company.
Nike will also partner with Adidas on basketball shoes, apparel and accessories for the upcoming NBA season.NBA players have been a key partner for the partnership, and the two sides announced a new partnership earlier this month.
This will give Adidas a significant market share in the sports apparel market.
Advisers at the NBA have long maintained that the league would have to make significant investments in adidas footwear to compete with the rising popularity of Nike.
While Adidas is the company that has been in the game longer, the NBA has had a history of using other brands to make shoes for its athletes.
Adesco CEO David Levy said today: “We are very proud of this partnership with the NBPA, and we’re looking forward to a long and successful partnership.”
Adidas said today that the NBA’s new partnership with Adidas will help to create a platform for the NBA to further develop its brand.
The NBA will also be able to tap into the tremendous growth of Nike’s shoes in a market where they are not only popular, but also highly profitable.
Nico Pinto, president of Adidas USA, said today in a statement: “The partnership with NBA represents the latest in the history of adidas-Nike collaboration.
The agreement also includes the first-ever NBA partnership of its type, allowing us to provide the NBA with a unique platform for growth and awareness.
We are excited to continue working with the two organizations to expand our brand and reach new heights.”NBA commissioner Adam Silver said in a joint statement that the agreement will help “create an unparalleled platform for both companies to grow their businesses and the league’s fan base.”
Nike has been an active partner in the NBA, and Silver said today the NBA will continue to be an active part of the NBA as a partner.
Adisco, which operates a manufacturing plant in China and sells shoes and apparel in the United States, said it plans to invest more than 1 billion yuan ($1.05 billion) in the next few years in a manufacturing facility in China.