Nov 9, 2010, 1:08 PM EDT
The NBA’s flagship store is leaving its prime New York City location just after the start of next year.
The NBA Store has been on Fifth Avenue in Manhattan — right in the heart of the city’s prime shopping district, where the store was as much an ad for the league as anything else — for a dozen years. But CNBC’s Darren Rovell reports the league is shutting down that location and moving on next February to another yet-to-be-determined spot in the city.
Why now, when the league itself reports that league merchandise sales are up 25 percent over a year ago?
The reason? Prices were thrown out of whack when Japanese clothing retailer Uniqlo agreed in April to pay a reported record $300 million over 15 years to lease a space in the same building as the league’s store.
This may be the most interesting part though.
When the new store opens, it will be run by adidas, which runs thousands of stores throughout the world and some in New York City. The current product mix in the store of roughly 65 percent adidas items is expected to continue. The league will control the lease.
Just another little shot in the Nike/Adidas battle.
- PBT Extra: Five best free agent signings in the first days of free agency 0
- Dwyane Wade agrees to one-year, $20 million deal to stay with Heat 10
- PBT Podcast: Talking best signings of free agency so far 0
- Report: Pacers agree to four-year, $44 million contract with Monta Ellis 22
- Report: Greg Monroe signing a maximum contract with Bucks 56
- Lakers, Knicks struggle on hectic first day of free agency 63
- Trail Blazers assistant coach: ‘We didn’t publicize it, but we lost LaMarcus Aldridge’ 9
- Who is left on the board after wild first day of NBA free agency? 30