Indiana University announced Tuesday that the athletic department and adidas have reached an eight-year, $21 million deal to supply footwear and apparel for IU's 24 varsity sports programs.
The new eight-year deal begins with the 2008-09 year and runs through the 2015-16 season. The deal extends IU's partnership with adidas which began during the 2004-05 season. Indiana reportedly made $500,000 annually from the first four-year deal.
"We're proud to extend our relationship with adidas," IU Athletics Director Rick Greenspan said in a prepared statement. "We appreciate their willingness to provide our student-athletes and coaches with the best products to aid their development and training, as well as their financial assistance to our department."
While Indiana's deal with adidas is a welcomed financial package for the athletics department, it does pale in comparison to some of the other recent deals adidas has inked. Michigan reported signed an eight-year, $60 million deal that included a $6.5 million signing bonus last summer. Notre Dame, meanwhile, signed a 10-year, $60 million deal in 2005.
Other schools that have all-sports deals with adidas include UCLA, Tennessee, Wisconsin, Nebraska and Kansas. Indiana's deal is more in line with the eight-year, $22.7 million deal Nebraska inked in 2005 and the eight-year, $26.67 Kansas signed in 2005.
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IU, adidas Reach Eight-Year, $21 Million Deal
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