Nike ending Manchester United soccer sponsorship

LONDON, July 8 Tue Jul 8, 2014 12:44pm EDT

LONDON, July 8 (Reuters) - U.S. sportswear company Nike confirmed on Tuesday that it would not renew its kit supply deal with English soccer club Manchester United when it expires next year.

"Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders," the company said in a statement.

German rival Adidas is expected to replace Nike as a partner of the 20-times English champions. (Writing by Keith Weir, editing by William Hardy)