Adidas won't extend uniform deal with NBA

Adidas's reign as the NBA's exclusive uniform supplier will come to an end in 2017, as the German apparel giant has dropped out of the bidding to extend its partnership with the league.

Adidas "instead will focus on developing new products, endorsing more amateur teams and doubling its roster of NBA players," according to the Portland Business Journal's Matthew Kish.

Adidas signed an 11-year deal with the NBA in 2006, and according to Kish, had been in talks to extend the deal since 2012 before walking away from negotiations this month.

"We haven't been able to elevate our brand for the basketball consumer that we're targeting," global basketball general manager Chris Grancio said. "We ultimately decided that we would change our investment strategy and invest more in players on the court."

"We're going to invest more money in basketball over the next five years than we ever have," Grancio added, saying the company will invest more in college and high school teams while expanding its roster of NBA players to 140 by 2020.