New Jackets: GT Signs 10-Year Deal With Russell Athletic
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Georgia Tech Inks 10-Year
Apparel Deal With Russell Athletic |
Georgia Tech (GT) has signed a new 10-year deal with Russell Athletic that "could be worth more than $20[M]," according to Matt Winkeljohn of the ATLANTA CONSTITUTION. The school's previous contract with Russell Athletic was for five years and $3M. Under the new deal, GT will "serve as a laboratory for new styles, designs and materials for Russell." Russell Athletic Exec VP Gary Barfield said GT "is probably our premier relationship, and being in Atlanta the proximity allows us to develop things using their athletes." The deal will net GT "$750,000 in cash per year from Russell for each of the next four years, increasing to $950,000 for each of the final two." Russell also will give GT "$1.1[M] in athletic apparel each of the next four years, ramping up to $1.35[M] in each of the final two years." If the school "needs more gear, [it] will pay wholesale." GT also will "get a wholesale price break on various equipment, $100,000 per year in apparel for camps and clinics, $100,000 a year in apparel for staff members, and two Russell internships per year for [GT] student-athletes." Russell will get "various football, basketball and baseball tickets, continued advertising signage rights at Grant Field and Alexander Memorial Coliseum, parking passes, some use of Tech's facilities for meetings and other perks" (ATLANTA CONSTITUTION, 8/20).
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