U of L Announces $160 Million Deal With Adidas
The University of Louisville athletics department has reached a new sponsorship deal with Adidas worth $160 million over 10 years.
Multiple media outlets report that Athletic Director Tom Jurich first mentioned the new deal to boosters Thursday night.
According to WDRB's Eric Crawford, the deal would be the fourth most-lucrative sponsorship in NCAA history:
“When we began our relationship with Adidas nearly 20 years ago, we weren’t in the same shape we are now,” said Jurich, in a news release. “Adidas has stood arm and arm with us through adversity and success."
Adidas, based in Portland, Oregon, "will supply footwear, apparel, accessories and marketing support for all 23 of the university’s intercollegiate athletic programs," according to the release.
Mark King, Adidas North America president said the company's new deal with U of L is one of its largest ever investments in American sports.
"Louisville has been an important partner of ours for nearly 20 years, and we see tremendous value in our new partnership as we continue to shape the future of sports together,” King said in the release.
The Courier-Journal has a list of the top 10 most profitable college sports sponsorships here.
This story has been updated.