BYU Announces New Nike Partnership

https://byuphoto.exposure.co/byunike-partnership?source=share-byuphoto



BYU director of athletics Tom Holmoe has announced that BYU Athletics and Nike, Inc., have reached an agreement on a new 7-year contract to continue its all-sport footwear, apparel and equipment partnership through 2025-26.



The new BYU-Nike agreement extends the footwear, apparel and equipment partnership through 2025-26. BYU was one of the first universities in the country to join the Nike family back in the late-1970s. The partnership with BYU football dates back to a friendship between BYU football coach LaVell Edwards, Nike executive Bill Kellar and Nike co-founder Phil Knight.



The new agreement more than doubles the annual value of the previous Nike agreement and includes annual cash compensation for BYU Athletics.



The extension ensures that BYU continues its longstanding partnership with the No. 1 footwear and apparel brand in the world.



The Cougars' new royalty rate for licensed BYU-Nike products will also increase revenue for the athletic program.

Kind of crazy the deal was so under valued before, but glad to see it doubling.

this should bode well for the upcoming TV negotiations with ESPN. A university's valuation in apparel is surely highly correlated with valuation as an entertainment commodity.

Having a high value with Nike should be a useful negotiating point with broadcasters.