Liverpool: New Balance will not appeal kit decision in High Court
Last Updated: 04/11/19 2:02pm
Kit supplier New Balance will not appeal the decision by the high court last week, which allowed Liverpool to take up a lucrative five-year deal with Nike.
The club was being sued over its alleged refusal to honour the terms of its reported £40m-a-year deal with the company, which expires in May 2020.
Under the terms of the deal, New Balance is entitled to renew its sponsorship if it matches the terms of any competitor's offer to sponsor Liverpool kit.
However, Liverpool argued that their current deal was inferior to the £30m-a-year deal being offered by Nike - on the basis of Liverpool product distribution and marketing.
In a statement, New Balance has said: "We remain disappointed that we're not able to continue our successful sponsorship of the Liverpool Football Club.
"We look forward to seeing LFC continue to win this season wearing their New Balance kit. New Balance is committed to bringing our expertise, passion, and innovation to the beautiful game and will continue to build on our own success on and off the pitch."