The Nebraska Board of Regents at a Friday meeting will be "asked to approve an 11-year agreement" that will pay the flagship university nearly $129M, according to Chris Basnett of the LINCOLN JOURNAL STAR. Adidas would pay Nebraska $64M in cash and provide $64.7M in "athletic apparel and equipment" for a total of $128.7M. The new deal would "approximately triple Nebraska's current contract" with Adidas. The parties "agreed to an eight-year deal" in '05 worth $22.875M and "agreed to a five-year extension" worth $15.53M in March '13. Nebraska and Adidas have "had a relationship" since '95. The deal would "also provide two 'look-in' periods" in the fourth and seventh years of the contract, which "would allow each side to adjust the contract to 'reflect market value.'" If approved, the new contract would be "effective retroactive to July 1" and run through '28. The agreement would also "replace the last year of the current contract," which is set to expire June 30, 2018. The agreement also "includes a sponsorship agreement for Adidas in which the apparel company will receive major signage and other forms of sponsorship" (LINCOLN JOURNAL STAR, 8/5).
