Adidas signs $53.6m deal with Indiana University
Adidas has extended its apparel contract with Indiana University through a $53.6m agreement that will last until 2024.
Source: Adidas
Under the new conditions, the sports apparel company nearly doubles its annual commitment to the Hoosiers, paying $6.7m per year for the next eight years. Previously, it was dishing out $3.7m per year.
According to research commissioned by Indiana University, the agreement is the fifth largest in college athletics.
Chris McGuire, senior director of sports marketing at adidas, said: “Since 2004, we've worked closely with the Hoosiers to bring our best and most innovative footwear, apparel and accessories to all men's and women's sports. We've enjoyed a successful partnership with Indiana and look forward to continuing to collaborate to help their athletes perform at the highest level."
Moving forward, Adidas will work to ensure a uniform and consistent look across all of school’s 24 varsity sports. It will also provide alternative football and men’s basketball uniforms each year.
The brand will also collaborate with the university on marketing campaigns, social media efforts, and in-store promotions.