Univ. Of Washington Inks 10-Year Extension With Nike
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Nike Re-Ups With Univ. Of Washington
For As Much As $39M Over 10 Years |
The Univ. of Washington (UW) and Nike have agreed to terms on a new 10-year extension, which runs through June 30, 2019. The deal has a combined minimum monetary and product value of nearly $35M, with additional incentives that could push the value to approximately $39M over the 10-year term. Nike will remain the exclusive provider of footwear, apparel and equipment for each of UW's 23 intercollegiate athletic programs. In addition to an average of $2.6M per year in product, a key component of the new contract is a cash sponsorship payment worth an average of $725,000 annually to the athletic department (UW). In Seattle, Bob Condotta reported the current five-year deal "paid UW about $1.3[M] a year in product and money." UW acting AD Scott Woodward said that the school "recently requested proposals for a new contract, and Nike exercised its right of first refusal." A new deal "then was struck." Woodward added that UW still will have "'sole discretion' for designing its uniforms, though he said there are no current discussions about doing anything with the football helmets and uniforms." Nine of the 10 Pac-10 schools have deals with Nike. UCLA's deal is with adidas (SEATTLE TIMES, 8/9).
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