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Nike signs red-hot Liverpool

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

Nike (NKE +0.1%) inks a multiyear deal with Liverpool Football Club to be the soccer powerhouse's official jersey provider.

The agreement follows a contentious court battle between Liverpool and current outfitter New Balance over contract terms.

The deal will help Nike replace the extra revenue lost when Manchester City signed a long-term kits deal with Puma. The timing also appears pretty good for Nike, with Liverpool on top of the English Premier League and the defending Champions League winner.

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