Sports

Manchester United Will End Sponsorship Deal With Nike After 2014-15 Season

/ KCAL News

BEAVERTON, Ore. (AP) — Nike will end its sponsorship deal with Manchester United after the 2014-15 season.

The Oregon-based sports apparel and shoe maker confirmed the end of the 13-year equipment supply contract in an email, saying the terms offered for a new deal did not represent good value for Nike's shareholders.

The club's deal with Nike was worth an estimated $502 million. Manchester United recently unveiled its Nike home jerseys for the coming season, which feature a gold Chevrolet logo, reflecting the American automaker's seven-year uniform sponsorship deal with the team.

The English Premier League side has been negotiating since January with several companies for a new equipment supply contract.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

First published on July 10, 2014 / 5:13 PM PDT

© 2014 CBS Broadcasting Inc. All Rights Reserved.

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