Georgia Tech Will Receive $3.11M Annually From Adidas Over Six-Year Contract
Georgia Tech will receive an average of $3.11M annually from Adidas in "cash and product over its six-year contract" set to begin July 1, according to Ken Sugiura of the ATLANTA JOURNAL-CONSTITUTION. The school will receive $200,000 annually in "cash over the six-year contract," while the "allowance for gear" will average $2.91M. The $200,000 cash allocation is "near the bottom of power-five conference schools." According to the Center for Research in Intercollegiate Athletics, Tech's $3.25M take for '18-19, including "both cash and product, would be 31st for the current academic year among power-conference schools." Sugiura: "Apparel is measured in retail value. What can’t be measured is the good feeling that simply not being contracted with Russell [Athletic] will provide both Tech athletes and fans." The contract does "leave open the possibility of Tech’s cash intake to increase over the contract." The contract will "include language for a 'look-in' after the third year for both sides to reevaluate the market and Tech’s athletic performance." Georgia Tech AD Todd Stansbury said, "We feel our numbers are going to look a lot different with Adidas as our partner, and so we didn’t want to lock ourselves in based on our current numbers as it relates to retail and licensing" (AJC.com, 1/15).