Bronco Buster: Boise State, Nike Agree To Six-Year Contract Worth Over $6M
Nike and Boise State Univ. have “agreed to a new six-year contract worth more than $6.24 million,” according to Brian Murphy of the IDAHO STATESMAN. The State Board of Education “will consider the contract at its meeting this week,” which if approved, will “be applied retroactively to Aug. 2011 and runs through June 30, 2017.” As part of the deal -- which includes all sports in one contract -- BSU will receive $6M worth "of product and equipment.” The contract “calls for an additional $75,000 per year in product allowance when the Broncos' football program joins the Big East” in '13. Nike will “pay the university $30,000 each of the first two years of the contract, $40,000 in the third and fourth years of the deal and $50,000 per year in the final two years.” It can reduce the payments "if there is a change in Boise State's football coach from Chris Petersen.” Nike will become the school’s "exclusive footwear, apparel and accessories sponsor." Murphy noted the teams, coaches and staff “are required to wear Nike product at games and events.” The deal includes “bonuses that Boise State can earn in certain sports” (IDAHOSTATESMAN.com, 4/16).
THE PETERSEN BRAND: In Boise, Cripe & Murphy report Petersen “has formed Chris Petersen Enterprises LLC, which will receive $250,000 per year under a licensing agreement that will allow Boise State to use Petersen’s name, image, voice, signature and other distinctive attributes for marketing, promotion and merchandising.” The exclusive license requires the coach’s “approval for each use and will be renewed for the life of the contract.” The deal is “part of Petersen’s latest five-year contract" that is worth $11,748,333 (IDAHO STATESMAN, 4/17).