Adidas reached an agreement to continue its partnership with North Carolina State. Adidas will guarantee the university at least $6.45 million per year in retail product and financial considerations to the Department of Athletics, more than doubling the value of the current contract between the two.
The contract provides uniforms, footwear, apparel and equipment to the Wolfpack's 23 varsity programs. The new agreement will run from July 2016 through June 2022 and makes the Wolfpack one of the premier global athletic brand's top U.S. collegiate partners.
The extension represents a significantly increased commitment by Adidas to NC State Athletics and the average annual value of the deal will be among the highest in the nation.
Additionally, the new agreement will also guarantee an increased annual minimum royalty payment to the University from the sale of officially licensed NC State merchandise. Net revenues from NC State trademark licensing royalties are used to fund scholarships and student support activities for the University.
"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."
"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."
The extension will enhance and expand the current department-wide partnership between the two parties that began in April 2012 and will expire in June.
Beyond outfitting the Wolfpack's 550 student-athletes, the new agreement provides for annual alternate uniforms in football, men's and women's basketball and baseball, as well as strategic marketing, branding and retail support.
Adidas is a global designer, developer and marketer of athletic footwear, apparel and accessories with the mission to make all athletes better. Adidas is the official uniform, footwear and apparel provider for more than 100 collegiate programs, including Arizona State, Indiana, Louisville, Miami, Michigan, Mississippi State, Nebraska, Texas A&M and UCLA. Adidas has marketing agreements with the National Basketball Association (NBA), National Football League (NFL), Major League Baseball (MLB) and Major League Soccer (MLS).
