Sports
University Of Nebraska, Adidas Sponsorship Deal Worth Over $128M
Adidas has been Nebraska's apparel sponsor since 1995.
LINCOLN, NE — The University of Nebraska has inked a new sponsorship deal with longtime sponsor Adidas and its athletic department stands to receive more than $128 million in money and products over the next 11 years.
The university's Board of Regents unanimously signed off on the contract extension Friday. Adidas will pay $64 million in cash and provide $64.7 million in apparel and gear.
A 2015 deal was to run through next June, but the deal begins immediately. Adidas will pay $3.5 million in cash in 2017-18 rather than $1 million promised under the last agreement.
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In exchange, Adidas receives major signage and other recognition from Nebraska. Adidas has been Nebraska's apparel sponsor since 1995. (For more information on this and other neighborhood stories, subscribe to Patch to receive daily newsletters and breaking news alerts. If you have an iPhone, click here to get the free Patch iPhone app.)
#GBR is still #teamadidas.
We're proud to announce our partnership extension with @Huskers. pic.twitter.com/pHqFramU3b
— adidas (@adidasUS) August 11, 2017
Photo credit: Nati Harnik/Associated Press