Adidas replaces Nike, Inc. as the new sponsor of Liverpool.

Premier League club Liverpool announced today that they have signed a multi-year kit sponsorship deal with Adidas, ending a five-year partnership with Nike, Inc. Class B (NKE.US). The team will wear Adidas kits next season. The contract between Liverpool and Adidas is for a period of 5 years and is worth over 300 million pounds. The new partnership will begin on August 1st. Adidas and Liverpool have had previous collaborations, from 1985 to 1996 and from 2006 to 2012.