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Univ. Of Oregon Discloses Nike Contract Under Order From State
Published May 4, 2010
|Univ. Of Oregon Releases Copy Of New
Eight-Year Contract Extension With Nike
The Univ. of Oregon yesterday "complied with an order from the state attorney and released" a copy of its eight-year, $22.7M contract extension with Nike, a deal that "appears to be standard for a school of Oregon's size and with an athletic department of considerable stature," according to Rachel Bachman of the Portland OREGONIAN. The financial details of the longterm partnership "had been public in the past until the university refused to release them this spring." UO athletics more than a year ago "quietly extended their all-sports outfitting agreement with Nike through 2018." Terms of the new agreement are level with the Univ. of Nebraska's pact with adidas and exceed Indiana Univ.'s eight-year, $21M contract with adidas. The contract shows that Oregon athletics during the '09-10 academic year received more than $2M in "gear and $500,000 in cash from Nike -- increases over the previous agreement's" $1.5M in gear and $250,000 in cash. The university's athletics budget is $66M this year (Portland OREGONIAN, 5/4).
MAKING A LIST, CHECKING IT TWICE: CNBC's Jim Cramer last night analyzed Nike's stock during an episode of his "Mad Money" show. Wearing a Nike headband, T-shirt, shorts and sneakers, Cramer said despite being the "best footwear company on earth," Nike has "lagged" behind other shoe stocks. He recommended his viewers to buy Nike shares before tomorrow, as there is a "big analyst meeting at its investor day on Wednesday." Cramer: "I got to tell you, if history is any guide -- I mean, any guide at all -- this stock is a huge buy ahead of the meeting. ... I think this analyst day is going to be even more positive than past ones that have produced really fabulous profits." He pointed out the company's international business is "really driving growth" and will "be the focus" at the meeting. Cramer: "I think we're going to hear some incredibly bullish things … and we might hear about the huge catalyst that's coming from the World Cup" ("Mad Money," CNBC, 5/3).