Louisville's Five-Year, $39M Adidas Extension Marks Third-Largest In College Sports
The Univ. of Louisville has extended its apparel deal with adidas for five years and $39M, making it the "third-largest-known agreement of its kind in college sports," according to Jeffrey Greer of the Louisville COURIER-JOURNAL. UL ranks behind only Notre Dame's $9M annual deal with Under Armour and Michigan's deal with adidas, which brings in $8.2M per year. The agreement will "consist of uniforms, footwear and accessories" for UL's 23 sports programs, as well as "investments in advertising, equipment room expansion and digital and video technology." UL and adidas also will create "scholarships and an internship program" for 20-23 students working in "marketing, branding and other areas in the athletic department." A projected $7.7M in cash is part of the deal. The UL football team will have "five different adidas uniform options" (Louisville COURIER-JOURNAL, 4/18). UL Associate AD/External Relations Brent Seebohm said that the school "negotiated with Adidas for more than eight months." Seebohm earlier in the year had indicated that UL's move to the ACC beginning with the '14-15 school year and the "recent success of its athletics programs" had put the university in a "good bargaining position for a better deal" (BIZJOURNALS.com, 4/17).