Regardless of your thoughts on Adidas, this is a huge deal financially.
NC State athletics and the German-based footwear and apparel company announced a six-year contract extension Tuesday morning. The Pack signed a department-wide four-year deal with adidas in 2012 that was worth $3.025 million annually in financial considerations, apparel and equipment.
The new six-year contract for a total of $38.7 million more than doubles those annual figures. NC State will now receive an average of $6.45 million yearly, a figure that ranks among the highest in all of collegiate athletics.
“We are pleased and appreciative that our enhanced partnership with adidas will allow us to better provide for our 550 student-athletes participating in 23 varsity sports,” said NC State Director of Athletics Debbie Yow in the prepared statement released by the university.
“That is our most important goal, and we will now have additional resources to meet those needs, as well as provide additional value to campus for support of student activities and scholarships.”
“We are always looking for great partners that bring value to our brand,” added adidas Group North America President Mark King. “We want to work with programs like NC State that are forward-thinking and challenge the status quo, bringing a new level of excitement to college athletics. More than 10 years ago, we began a valuable partnership with NC State, and we look forward to continuing our relationship for years to come.”
The new agreement also calls for adidas to provide alternate uniforms annually for football, men’s and women’s basketball and baseball.
According to a database kept by the Business Journal, NC State’s new deal would surpass the amount that any of the ACC’s public schools earned last year from their respective apparel deals.
Louisville led the group of eight public institutions in the ACC with $5.915 million from adidas, followed by Florida State ($4.4 million from Nike). UNC was third with $3.55 million from Nike followed by the Pack’s previous contract amount.
A closer look at GoPack.com.
WRAL adds what most of us already know: apparel and uniforms are all about recruiting.