German sportswear brand adidas has declined to renew its apparel deal with UK football club Liverpool because the price was too high given the team’s poor performance, CEO Herbert Hainer recently told media in Munich.

Liverpool FC has replaced adidas with a club record, six-year, £25 million contract with Warrior Sports, a subsidiary of New Balance. It will be Warrior's first major football contract, and begins next season. It is worth almost double the current agreement with adidas.

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