Rolling in the dough… Only two schools have bigger deals than this one.
Indiana University lands $53.6 million deal with Adidas
NEW YORK (CNNMoney) –
Indiana University just extended its contract with Adidas and got a huge raise in the process, making it one of the biggest apparel deals in all of college athletics.
Adidas will pay the Hoosiers $53.6 million through 2024, or $6.7 million a year, up a whopping 81% from the prior deal it had with Indiana.
Only the University of Michigan and UCLA have bigger deals, according to the Portland Business Journal’s database, which tracks athletic contracts at 85 universities.
The University of Michigan signed a new contract with Nike worth $169 million, while UCLA reportedly collects $7.5 million annually from Adidas.
Adidas will provide new uniforms each year to the school’s football and men’s basketball teams and will conduct an audit to ensure that the school’s crimson and cream colors are uniform across all 24 varsity athletic teams. The deal also ensures co-branding between IU athletics and Adidas in social media and marketing campaigns.
Indiana University lands $53.6 million deal with Adidas (Clickondetroit.com)