The University of Nebraska Board of Regents will vote next week on extending the athletic department’s partnership with Adidas. According to minutes released for next week’s meeting, the deal is for 11 years and nearly $129 million.
The Huskers’ current deal with Adidas, approved in 2013, goes through 2018. If approved, the new deal would retroactively start on July 1, 2017, increasing Nebraska’s cash payment for this year from $1 million to $3.5 million and it’s product allowance from $3.4 million to $5.05 million.
The new deal would pay Nebraska an average of nearly $11.7 million annually, putting the Huskers in line with some of its peer programs in the Big Ten. Michigan signed an 11-year, $127 million deal with Nike in 2016. Ohio State re-upped its agreement with Nike that same year to the tune of $252 million over 15 years.
The Nebraska and Adidas partnership dates back to 1995. Prior to the five-year deal struck in 2013 ($3.1 million annually), the Huskers previously re-upped with Adidas in 2005 ($2.9 million annually).
The Regents will consider the proposed agreement on Aug. 11.