N.C. State Univ. has signed a four-year contract extension with adidas, with the deal guaranteeing the school “at least $7 million in cash and apparel," according to Jason deBruyn of the TRIANGLE BUSINESS JOURNAL. The agreement "could be more, depending on licensing revenue.” The school in each year of the deal “will receive $425,000 in cash and a minimum guarantee of $75,000 in licensing revenue.” In addition, adidas “guarantees $1.2 million in apparel the first year, $1.25 million the second year and $1.3 million in the third and fourth years.” The contract applies to all sports in which adidas “provides a product, making N.C. State the first ACC school to have an all-sport deal with Adidas and only the 13th university in major college sports.” adidas does not make competition swim gear, meaning the swim and diving teams “will still wear Speedo, and the baseball team has an existing contract with Louisville Slugger for bats” (BIZJOURNALS.com, 4/25). In Raleigh, J.P. Giglio notes adidas “had a previous deal with the football and men's basketball teams but the new deal will cover all 23 teams in the athletic department, which ends up saving the school between $900,000 and $1 million a year from its previous deals with a variety of shoe and apparel companies” (NEWSOBSERVER.com, 4/25).
