U of O reaches tentative $88M deal with Nike

EUGENE, Ore. (AP) – The University of Oregon says it has reached a tentative agreement with Nike that increases sponsorship to $88 million in cash and gear for the university.

The Register-Guard reports the university’s board of trustees will consider approving the 11-year deal next week. The university released only the agreement description on Thursday and not the full draft contract.

The university would receive $2 million annually from Nike until 2023 under the deal, and then the amount would increase to $2.5 million each year until 2028.

The school would also get $5 million in apparel each year. The gear would gradually increase to $6 million in 2022.

Under the current deal with Nike, the university is receiving a base cash payment of $600,000 and $2.4 million in products this school year.

___

Information from: The Register-Guard, http://www.registerguard.com