Nike is close to agreement with the NBA to become their next on-court apparel supplier.

Adidas' deal with the NBA expires after the 16-17 season and they already announced they wouldn't seek a new deal.

Nike and the NBA still have "a million I's to dot and T's to cross," said a senior industry source, "but it's at that stage, as opposed to getting to the right number." 

Adidas’ current agreement is valued at $400M over 11 years, and a Nike deal is certainly expected to surpass that in value.

Nike's deal will include the rights to put a manufacturer's logo on NBA jerseys for the first time.