Hoosier Supplier: Adidas Signs Eight-Year Extension With IU
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IU Extends Deal With
Adidas Through 2016 |
Indiana Univ. (IU) and adidas have agreed to an eight-year extension through the 2015-16 school year in which the company remains the official footwear and apparel supplier for all 24 IU sports programs. The deal calls for all teams and coaches to be outfitted in adidas footwear, uniforms, training apparel, sideline apparel and accessories. IU began its relationship with adidas in '04 (IU). SCOUT.com's John Decker reported the deal is worth $21M over the eight years. The agreement is an increase over the $500,000 IU made annually from its original four-year deal, but it "does pale in comparison to some of the other recent deals adidas has inked." The Univ. of Michigan last year signed a reported eight-year, $60M deal with a $6.5M signing bonus, while the Univ. of Notre Dame in '05 agreed to a 10-year, $60M deal. IU's deal is "more in line" with an eight-year, $26.67M deal adidas signed with the Univ. of Kansas and an eight-year, $22.7M agreement with the Univ. of Nebraska (SCOUT.com, 4/29).
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