Indiana Univ. AD Fred Glass confirmed that the school has "extended its apparel contract with Adidas in a deal that will nearly double the company’s annual payment" from $3.7M to $6.7M, according to Zach Osterman of the INDIANAPOLIS STAR. IU officials said that the eight-year, $53.6M deal is "one of the five richest publicly known apparel deals in college athletics." Osterman reports the deal will "help the Hoosiers ensure that 'crimson and cream' are the same hues across all 24 IU sports." IU and adidas "have been partners in apparel over numerous spells in the department’s history," with the current deal dating to '04. The extension "will ensure that relationship continues" through at least '24 and makes IU one of adidas’ "most high-profile customers, after Michigan and Notre Dame defected for competitors in the last two years." The deal will "allocate extra funds both parties can use for 'co-marketing' and provide alternate uniforms and helmets" for IU’s football program. adidas also will "provide an optional alternate uniform" for the IU men’s basketball team each year. adidas will "conduct a 'full branding audit' of IU’s uniforms and apparel, to ensure greater consistency in color and design." Glass emphasized the audit "does not portend any significant changes." However, he said that he is "hopeful it can create a more uniform look within his department." Osterman notes IU was "willing to listen to offers from Nike and Under Armour," but adidas' "improved terms" won out. The deal will "further expand annual revenues, which climbed north" of $84M at IU last year (INDIANAPOLIS STAR, 8/18).
BY GEORGE! Nike and George Washington Univ. yesterday announced a three-year extension for the school's 27 varsity sports. The agreement extends the initial deal signed in '12 (GW).
