That’s a serious cash commitment. Good for them!

The Wall Street Journal reports.

Nike Pledges $13.5 Million to Help Renovate University of Oregon Track Facilities

Nike Inc. has pledged $13.5 million toward renovations of track and field facilities at the University of Oregon, part of an upgrade that would facilitate the venue’s hosting of the 2021 World Track & Field championships.

The world’s largest sportswear maker said it has granted the first of two installments of $6.75 million to the University of Oregon Foundation, a nonprofit organization overseeing renovations to the school’s Hayward Field.

Construction is scheduled to begin in August, according to the foundation’s website and includes a design that allows for temporary seating for as much as 30,000 people, the minimum required for the world championships. Hayward Field currently seats 10,500.

Nike’s contributions to the project in Eugene, Ore., weren’t previously known. Oregon state officials have been working on proposals to secure state funding for the stadium.

Nike said the second installment of its commitment is contingent upon further fundraising for the project. A spokesman for the University of Oregon said “we try not to talk about individual donors, as a general rule of thumb.”