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German soccer team to keep wearing Adidas

FRANKFURT
Fri Aug 24, 2007 9:53am EDT

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Herbert Hainer, CEO of Adidas Group, poses for the media before the annual news conference in Herzogenaurach March 7, 2007. Germany's national soccer team will continue to wear Adidas kit after rejecting a higher sponsorship deal from sport goods rival Nike. REUTERS/Michaela Rehle

FRANKFURT (Reuters) - Germany's national soccer team will continue to wear Adidas (ADSG.DE) kit after rejecting a higher sponsorship deal from sport goods rival Nike (NKE.N).

The German football association (DFB) said on Friday it had agreed to a settlement in a supply dispute with Adidas.

Nike offered 500 million euros ($678.4 million) to provide the German team's kit for eight years from 2011, an amount many times more than Adidas's deal.

"German football has lost a great chance," a Nike spokesman in Germany said, He added Nike was not planning a legal challenge against the decision.


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