UW Athletics And Nike Inc. Extend Relationship
Aug. 8, 2008
SEATTLE - The University of Washington department of intercollegiate athletics and Nike Inc. have agreed to terms on an extensive new 10-year agreement that provides Husky Athletics with nearly three times the resources of the previous agreement between the two parties.
The agreement, which is pending approval by the UW's Board of Regents, becomes effective on July 1, 2009 and expires on June 30, 2019, has a combined minimum monetary and product value of nearly $35 million with additional incentives that could push the value to approximately $39 million over the 10-year term. Nike will remain the exclusive provider of footwear, apparel and equipment for each of the UW's 23 intercollegiate athletic programs.
In addition to an average of $2.6 million per year in product, a key component of the new contract is a cash sponsorship payment worth an average of $725,000 annually to the athletic department.
"We are really pleased with the continued corporate commitment Nike has made to our athletics program," said Scott Woodward, UW's acting director of athletics. "This new long-term sponsorship agreement rates among the elite, top-tier athletics programs in the country and provides our student-athletes, coaches and staff with the resources to remain nationally competitive at the highest levels of college athletics. This agreement also represents a resounding endorsement of the future of Husky Athletics from the world's leading sports brand."
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