Off of a report by the Lincoln Journal Star today, Nebraska and Adidas are ready to continue their relationship.
Per the report, the shoe and apparel company is ready to nearly quadruple the payment they make to the University of Nebraska Athletic Department, bumping up the money the school gets to $128 million dollars over the course of an 11-year licensing agreement.
The contract must be voted on by the University’s Board of Regents, who plan on doing so in their next meeting on August 11th.
Nebraska & Adidas started their relationship in 1995, and 20 plus year later, the Huskers plan on being the highest paid Adidas school in college football, starting in 2017/18 when the Huskers get $3 million, all the way to a scheduled $5.5 million payment in 2028. The apparel part of the deal starts at just over $5 million this coming year, going up to $6,785,000 at the end of the contract.
Furthermore, there are two “look-in” periods that the school and apparel company agreed upon, giving both the ability to “adjust the contract to reflect market value in such a manner that UNL retains its status as an elite Adidas university program.” Basically, that means that Nebraska will stay on top of the Adidas mountain.
This deal would peg Nebraska with the 5th best apparel contract in college sports, and as mentioned above, the best Adidas one around. Pretty well done by Shawn Eichorst and the Nebraska administration to get the (currently) 41st ranked deal to a top 5 one.