NC State signs six-year extension with Adidas
Posted November 10, 2015 10:51 a.m. EST
Updated November 10, 2015 11:21 a.m. EST
Raleigh, N.C. — NC State and Adidas reached an agreement Tuesday on a six-year extension of their partnership through 2022, the university said in a press release.
Adidas will continue to provide uniforms, footwear, apparel and equipment for NC State’s 23 varsity programs.
The new agreement is valued at $38.7 million, averaging out to $6.45 million annually in retail product and financial considerations. Net revenues from the NC State trademark licensing royalties are used to fund scholarships and student support activities for the university, according to the release.
“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. “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.”
As a part of the new agreement, Adidas will also provide annual alternate uniforms for football, men’s and women’s basketball and baseball teams.
“We are always looking for great partners that bring value to our brand,” said 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.”
NC State and Adidas’ original agreement was set to expire in June after the sides agreed to a four-year deal in April of 2012.
Adidas provides footwear and apparel to more than 100 collegiate programs, including Arizona State, Indiana, Louisville, Miami, Michigan, Mississippi State, Nebraska, Texas A&M and UCLA.
