Rebel Yell: Nike Inks Sponsorship Deal With All UNLV Athletics
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Nike Inks Deal To Become Official
Shoe, Apparel Provider To UNLV |
Nike is now the official shoe and apparel supplier for all UNLV athletics in a deal "valued at $3[M] over the course" of two five-year contracts and one three-year deal, according to Mark Anderson of the LAS VEGAS REVIEW-JOURNAL. The three-year deal covers men's basketball for a total of $465,000, while the five-year contracts cover football, $1.15M total, and "all other sports" at $1.385M. While Nike will not contribute money to the school, "other than $75,000 annually to help pay men's basketball coach Lon Kruger's five-year, $5.2[M] salary," the contracted money will serve as an "open account" for the university to purchase other items, including "football jerseys, tennis shoes and coaches' sideline golf shirts." UNLV AD Mike Hamrick said that the Nike deal "will provide substantial savings because that is money set aside rather than cash that comes out of the athletic department's coffers." The school is allotted a 10% discount to purchase other items if it "goes over any of the contracted amounts." UNLV previously had three separate sponsorship deals with Nike, Russell Athletic and adidas, where it "bought items at cost and did not have open accounts already provided," spending $247,777, $117,518 and $93,000 on each, respectively (LAS VEGAS REVIEW-JOURNAL, 2/7).
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