Pursuits
Nike Wins $1 Billion Contract With NBA as Adidas Walks Away
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Nike Inc. won an eight-year deal to make uniforms for the National Basketball Association, taking over for Adidas AG after that company’s contract runs out in 2017.
Nike will become the first apparel partner to have its logo appear on all on-court uniform designs, according to a statement Wednesday. The company is paying about $1 billion for the contract, according to a person familiar with the deal who asked not to be identified because the terms are private.