The University of Nebraska Board of Regents Friday approved 7-0 an agreement to extend NU’s athletic apparel contract with Adidas.
It’s a five-year, $15.53 million deal, with $8.03 million of the money coming in cash paid by Adidas to Nebraska, and $7.5 million in athletic apparel, equipment and the like. Adidas also pays bonuses to the school when certain teams win national or conference titles, or a coach wins Coach of the Year.
“We are pleased to extend our contract with Adidas as we look to continue to grow and extend our Nebraska athletics brand worldwide,” Athletic Director Shawn Eichorst said in a statement. “Their products are of excellent quality across all sports and through the years they have also provided superior customer service to our programs. Adidas has been a great partner for us and we look forward to working with them over the next five years.”
Regent Bob Phares — chair of the business affairs committee that examined the contract — said Adidas’s deal was “the best thing that was available.” The proposal for the five-year extension was co-sponosored by Eichorst.
“We wanted to know if they had really researched and vetted the thing before they brought it to us, and it was obvious they had,” Phares said. “We were comfortable.”