LINCOLN, Neb. (AP) – The Nebraska Board of Regents is set to approve an 11-year deal with athletic apparel giant Adidas that will pay the university nearly $129 million in cash and product.
The Lincoln Journal Star reports the deal would triple the university’s current contract with Adidas, with the company paying Nebraska $64 million in cash and providing $64.7 million in athletic apparel and equipment.
If approved by regents next Friday, the new contract would be effective retroactive to July 1 and run through 2028. The agreement would also replace the last year of the current contract, which is set to expire June 30, 2018.
That would mean a bump from $1 million to $3.5 million in cash and from $3.4 million to $5.05 million in product for the 2017-18 athletic year.