University of Oregon reaches tentative $88M deal with Nike
The University of Oregon says it has reached a tentative agreement with Nike that increases sponsorship to $88 million in cash and gear for the university.
The Register-Guard reports the university's board of trustees will consider approving the 11-year deal next week. The university released only the agreement description on Thursday and not the full draft contract.
The university would receive $2 million annually from Nike until 2023 under the deal, and then the amount would increase to $2.5 million each year until 2028.
The school would also get $5 million in apparel each year. The gear would gradually increase to $6 million in 2022.
Under the current deal with Nike, the university is receiving a base cash payment of $600,000 and $2.4 million in products this school year.