Nike's deal with Manchester United to end after the 2014-15 season

Nike will end its sponsorship deal with Manchester United after the 2014-15 season.

The Oregon-based sports apparel and shoe maker confirmed the end of the 13-year equipment supply contract in an email, saying the terms offered for a new deal did not represent good value for Nike's shareholders.

The club's deal with Nike was worth an estimated $502 million. Manchester United recently unveiled its Nike home jerseys for the coming season, which feature a gold Chevrolet logo — reflecting the American automaker's seven-year kit sponsorship deal with the team.

The English Premier League side has been negotiating since January with several companies for a new equipment supply contract.