Sportswear giants Nike have decided not to renew their kit deal for Manchester United after next season.
The American company have supplied the Old Trafford club since 2002 when they replaced Umbro in a lucrative deal which has cost Nike around £24million a season.
Although some reports at the weekend suggested a new record-breaking deal was set to be concluded, Nike revealed on Tuesday that they had opted to walk away from negotiations, claiming United were demanding too much money.
A Nike statement read: "Manchester United is a great club with passionate fans. We are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the 2014/15 season.
"Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders.
"We look forward to a successful final season with the club."