Writer’s Strike End a Boon for Sports Networks, Agencies
Adidas will not renew its deal as the NHL’s official uniform and apparel supplier when its contract expires after the 2023-24 season.
The company replaced Reebok in the 2017-18 season as part of a seven-year deal, which at the time was reportedly worth at least double the $35 million Reebok paid annually. Reebok had been the league’s official uniform supplier since the 2005-06 season.
The NHL has reportedly started to inform other apparel companies of the transition.
- Adidas was uninterested in renewing the deal.
- The company has reportedly already told players with expiring endorsement deals that the agreements wouldn’t be renewed.
In June, the NHL secured a deal with Mitchell & Ness to collaborate on licensed apparel and accessories. Terms of the deal weren’t disclosed, but the agreement covers all 32 franchises. Fanatics and several high-profile investors acquired Mitchell & Ness for $250 million in February — five times the amount Adidas sold it for in 2016.
The NHL should be just fine. It has a broadcasting deal with ESPN until 2028 worth $400 million annually, while Turner Sports holds a separate package worth $250 million annually.
Soccer Stripes
While Adidas may not be seen on the ice, sports fans can always find it on the pitch.
In March, the company announced a deal to become the kit supplier for Italy’s national team. Adidas is in the middle of a 10-year, $1.3 billion kit deal with Manchester United and a five-year, reportedly $391 million deal with Arsenal.
