Univ. Of Kentucky Signs Eight-Year, $30M Extension With Nike Through '25

The Univ. of Kentucky has "signed an eight-year extension" of its footwear and apparel deal with Nike that "runs until Aug. 31, 2025," according to Matthew Kish of the PORTLAND BUSINESS JOURNAL. The length of the contract, which had been set to expire in '17, is the "latest signal that Nike wants to lock up key partners long-term." Florida State ('24) and Florida ('24) also "recently signed long-term extensions." UK will get $1.725M "in equipment" and $1.8M "in cash from Nike this academic year." The equipment allowance "climbed $125,000 annually but the cash terms did not change." The eight-year extension period "will generate" $30.6M for Kentucky. Its annual apparel allowance "will rise" to $2.125M by the last year of the deal. UK will receive $1.8M in cash "each year of the contract." The extended deal "included a $2.4 million signing bonus" (BIZJOURNALS.com, 3/4).