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Nike inflicts huge home defeat on Adidas by nabbing German soccer team kit deal
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Things have gone from bad to worse for Adidas. After a costly break-up with US rapper Ye that helped push the German sportswear giant into a rare loss last year, it痴 now suffered a bruising defeat on home turf.
The German Football Association (DFB) announced Thursday that the company痴 arch rival Nike (NKE) will be the official kit supplier for national soccer teams from 2027 until 2?034. The decision brings to an abrupt end more than seven decades of the sport痴 partnership with Adidas that spanned four World Cup wins for the men痴 team.
In a statement, DFB President Bernd Neuendorf said German football owed 殿 great deal to the partnership with Adidas and that the association was 吐ully committed to achieving further joint success through the end of 2026, when their contract expires.
The DFB said Nike had made 澱y far the best financial offer and impressed with its vision for developing women痴 football, and amateur and grassroots sport in Germany. It did not say how much the new deal was worth.
An Adidas spokesperson said in a statement that 努e were informed by the DFB yesterday that the federation will have a new supplier from 2027 onwards.
Germany will be the host for the Euro 2024 men痴 championship, taking place this June and July. Adidas will supply the kits for seven national teams, including the German, Italian and Spanish teams.
In just under three years time, however, fans will see Nike痴 trademark ticks, not the three stripes of Adidas, on the shirts of Germany痴 national teams. German economy minister Robert Habeck reportedly told local news agency DPA Friday that he could 塗ardly imagine the prospect.
The partnership between Adidas and German football was a 菟iece of German identity, he was reported as saying. 的 would have liked a bit more local patriotism.
Adidas was founded in 1949 in Herzogenaurach, a small town outside Nuremberg in south-east Germany, the same year it registered its now-iconic three-stripe logo.
DFB痴 announcement comes at a bad time for Adidas, which last week posted a net loss of 58 million ($63 million) in its core business for 2023, citing a slowdown in sales of its Yeezy-branded clothing and sneakers, and a large tax burden.