Report: Nike to pass on renewing Manchester United deal

|About: Nike Inc. (NKE)|By:, SA News Editor

Nike (NKE) will end a long-time deal to supply Manchester United (MANU) with soccer kits after its current contract expires, according to Reuters.

The 7th-place soccer club was looking for a new sponsorship deal at around £60M ($102.1M) per season.

What to watch: Nike isn't expected to go overboard trying to nab deals with other top European teams with its DNA in backing the top individual stars in a sport, rather than clubs or teams. Adidas (ADDYY) will likely have talks with Man U. about replacing Nike.