Nike will not be renewing their sponsorship deal with Manchester United. (Reuters)
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U.S. sportswear company Nike Inc will not renew its long-running kit supply deal with former Premier League champions Manchester United after pulling out of a bidding war with a rival.United are reported to be close to finalising a 10-year agreement with German sportswear company Adidas AG that could be worth 60 million pounds ($102 million) a season, a record for a club deal.Both Adidas and United declined comment.A deal with United, one of the world's most popular teams, would be seen as an attempt to protect the German company's leading position after Nike made strong inroads over the last two decades.
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