NC State will extend its contract with Adidas for six more years, Athletics Director Debbie Yow announced Tuesday. The partnership extension will put NC State on par with other ACC schools, more than doubling the total value to NC State from the current $3 million to $6.45 million per year when the contract takes effect in July.
As per the contract, Adidas will serve as the footwear, uniform, apparel and equipment provider for NC State’s 23 varsity programs through June 2022.
“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,” Yow said in a statement. “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.”
Additionally, Adidas will provide alternate uniforms annually for various programs, like the newly announced gray “Iron Wolf” design the Pack will wear on Military Appreciation Day, Nov. 21, against Syracuse.
The current deal, which was agreed upon in 2012 and will expire at the end of the 2015-16 school year, has a total value of $8 million to the school. The newly announced partnership is valued at $38.7 million in total, and falls in line with other recent apparel deals like those signed by Notre Dame, Michigan and Miami. Texas, for example, continued its partnership with Nike with a 15-year, $200 million contract. The contract places NC State fifth nationally in disclosed revenue deals.
NC State’s new deal will also increase the annual royalty payment from Adidas to the University, ensuring a minimum total of $1,755,000 with an average of $292,500 per year, according to The News & Observer.
This royalty payment, taken from net revenues from merchandise sales, will be used to fund scholarships and student support activities for the University, NC State Athletics announced.
The deal will allow Adidas to continue to support NC State’s growing athletic successes, such as the Sweet Sixteen run in the 2015 NCAA Men’s Basketball Tournament.
“We are always looking for great partners that bring value to our brand,” Adidas Group North America President Mark King said in a statement. “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.”
