Well Heeled: North Carolina Signs New 10-Year Deal With Nike
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North Carolina, Nike Continue Longtime
Association With Deal Worth $37.7M |
The Univ. of North Carolina (UNC) and Nike have signed a new 10-year contract for Nike to be the exclusive supplier of athletic footwear, apparel and accessory products for the school. The deal was signed in late May and is retroactive to July 1, 2008. Nike will provide the athletic department with shoes, uniforms, coaching gear and other equipment. UNC will receive $1M for signing the contract, with those funds used to overhaul lighting and acoustics at the Dean E. Smith Center. Nike has also entered into individual contracts with each of UNC's head coaches, consistent with NCAA regulations and school policy. In addition to apparel and equipment, Nike as part of its deal will give UNC $2M to the Chancellor's Academic Enhancement Fund. UNC Chancellor Holden Thorp said that he will direct the funds to faculty support (UNC). In Raleigh, Robbi Pickeral notes the deal is worth $37.7M. UNC AD Dick Baddour said that he was "in negotiations with Nike for more than a year and getting each coach their own agreement was important this time." Baddour: "That was a priority of mine, something that I put on the table early on, because it would help the department to maintain a competitive level in head coaches' salaries without having to generate the income through ticket sales and student fees and private funds." The school "no longer releases figures for the individual deals," but Baddour said the amounts are "in balance with their salaries" (Raleigh NEWS & OBSERVER, 7/2).
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