Nike wins deal to make NBA uniforms, taking over for Adidas

The world’s largest supplier of athletic gear Wednesday landed an eight-year deal to make jerseys, warm-up outfits and shooting shirts for the National Basketball Association.

Nike Inc. (NYSE: NKE), a marketing partner of the NBA since 1992, takes over for Adidas AG. Adidas announced in March it would not renew its 11-year partnership with the league, but would remain a sponsor of individual players.

Under the agreement, Nike also will create apparel for the WBNA and the NBA’s development league. It is set to become the first apparel partner to have its logo appear on all on-court uniform designs.

Shares of Nike rose 1.1 percent to $104.50 in extended trading following the announcement. The stock was up 7.5 percent in 2015 through the market’s close Wednesday.

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