Nike ends Manchester United kit deal after 13 years

Nike is ending a 13-year deal to manufacture Manchester United's football kit.

In a statement, the American sportswear company said "the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders".

It is thought that either Germany's Adidas or Warrior will replace them.

Manchester United did not qualify for this season's Champions League for the first time in 19 years.

The club suffered its worst ever Premier League finish last season after manager Sir Alex Ferguson left following 26 years in the job.

His successor, David Moyes, lasted just

Nike's marketing costs soar on World Cup

Heavy spending on marketing weighed on Nike's performance in its fourth quarter which ended 31 May.

Expenses on marketing soared 36% to $876m (£514m) as Nike boosted promotion ahead of the 2014 Fifa World Cup.

That curbed profits which rose 1% to $698m, compared to the same quarter in 2013.

Between March and May Nike launched a number of new shoes including the Mercurial Superfly, worn by Portugal's Cristiano Ronaldo.

On Thursday, Portugal became