Last year, Addidas wrote down Reeboks value by around half to 842 million euros, or about $995 million.

That was a sharp decline from the $3.8 billion it paid for the brand in 2005.

Now, Manager magazine says Adidas chief Executive Casper Roasted plans to complete a sale by March 2021.

The publication listed US apparel maker VF Corp and China's onto Sports among the interested parties.

There was no immediate comment from Adidas, but shares in the firm jumped on the news, trading as much as 3% higher on Thursday afternoon.