UConn extends partnership w/ Nike through 2023.

[huskymedic]

UConn Extends Nike Sponsorship Through 2022-23

>>The total value of the contract to the University from 2017-23 in combined product and cash is $32.45 million.<<

Prior 10 year agreement (signed in 2008) was for $46m

 

[UConnTrumbull]

 

[tcf15]

UConn Extends Nike Sponsorship Through 2022-23

The total value of the contract to the University from 2017-23 in combined product and cash is $32.45 million.

 

[tykurez]

Bummer. Was hoping we'd sign a new one with Fila.

 

[EDouble]

This is good. Probably the least we could do given their generosity :

"The new logo comes out of a marketing partnership between the school's athletic department and Nike, which designed it at no cost to the school, said spokeswoman Stephanie Reitz" - Nike helps rebrand University of Connecticut as UConn

I'm sorry, I just miss the old logo and the dominance it represented.

 

[ConnHuskBask]

UConn Extends Nike Sponsorship Through 2022-23

The total value of the contract to the University from 2017-23 in combined product and cash is $32.45 million.

So $4.6M annually? A huge chunk of that must be product though.

The last deal we signed with Nike was $46M covering 10 years ($31M in gear, $15M cash).

 

[UCDaveD]

Much needed casheesh. AD Dave is on it.

 

[huskymedic]

"It’s wonderful that we will continue our association with Nike for years to come,” said men’s basketball coach Kevin Ollie, who led his team to the 2014 NCAA national championship – one of four won by UConn. “Nike is the No. 1 name in college athletics and has been a big part of the success that we have enjoyed here at UConn. We couldn’t ask for a more supportive partner as we move forward.”

 

[Ant3411]

Was hoping we would be the first school to sign with Big Baller Brand...

Glad we extended with Nike, I'd hate it if we went to UA or Adidas. Only other brand i remember is when we were with Starter in the early 90's...

 

[Kenny11]

I need a pair of Starter wind pants.

 

[CL82]

So $4.6M annually? A huge chunk of that must be product though.

The last deal we signed with Nike was $46M covering 10 years ($31M in gear, $15M cash).

$32.45/6 = $5.4M or am I doing something wrong?

 

[Slasher]

$32.45/6 = $5.4M or am I doing something wrong?

2017-2023 is 7 years so yes.

 

[CL82]

2017-2023 is 7 years so yes.

@2017 is over half over though?

 

[Slasher]

@2017 is over half over though?

Yeah who knows, the math for 32.45/7 = 4.64M which is pretty much exact same value as current contract. Maybe it's 32.45/6.5. Regardless it's a small bump from the previous deal.

 

[CL82]

Yeah who knows, the math for 32.45/7 = 4.64M which is pretty much exact same value as current contract. Maybe it's 32.45/6.5. Regardless it's a small bump from the previous deal.

Yep. I guess the takeaway is all those who said our brand no longer has value were wrong.

Of course the bad news is that our brand has dropped relative to our peers if our contract stayed flat.

 

[Horatio]

I need a pair of Starter wind pants.

The absolute best ever

 

[UConnDan97]

@2017 is over half over though?

Without knowing the details, I'm assuming you're correct. The deal will likely expire around the same time in the year that this one expires, since the title of the article says "through 2022-2023". So yeah, that would be a 6 year contract...

 

[ConnHuskBask]

Yep. I guess the takeaway is all those who said our brand no longer has value were wrong.

Of course the bad news is that our brand has dropped relative to our peers if our contract stayed flat.

I'm sure the numbers are out there via google, but any idea how these numbers compare to BC, Cuse, Rutgers, Pitt, etc? Would imagine Cuse is by far ahead of that group.

Edit: We're still in pretty good standing.

Rutgers with a 6 year $10M deal.

B1G top 4 per article:
Forbes.com ranked Ohio State ($16.8M with Nike), Michigan ($15.7M with Nike), Wisconsin ($9.6M with Under Armour) and Indiana ($6.7M with Adidas) as the Big Ten's four richest programs in terms of sports-apparel deals.

Rutgers agrees to big-money Adidas apparel deal

 

[Horatio]

Dear Nike,
We appreciate your generosity and sponsorship but could you not give us those unisex spandex leotards for the 2017-2018 season,

Please and Thank
You,
Uconn Men's Basketball
Team and Fans

 

[huskymedic]

Without knowing the details, I'm assuming you're correct. The deal will likely expire around the same time in the year that this one expires, since the title of the article says "through 2022-2023". So yeah, that would be a 6 year contract...

Original contract w/ contract fiscal years spelled out (pg. 5): http://www.das.state.ct.us/rfpdoc/uconn/results/nike agreement.pdf

 

[UConnDan97]

Original contract w/ contract fiscal years spelled out (pg. 5): http://www.das.state.ct.us/rfpdoc/uconn/results/nike agreement.pdf

" 'Contract Year' shall mean each consecutive twelve (12) month period from July 1 through June 30 during the term"

So yes, it is exactly a 6 year contract. Thanks, Medic. Everyone can feel free to use the $5.4M number from CL82...

 

[ConnHuskBask]

" 'Contract Year' shall mean each consecutive twelve (12) month period from July 1 through June 30 during the term"

So yes, it is exactly a 6 year contract. Thanks, Medic. Everyone can feel free to use the $5.4M number from CL82...

That looks even better compared to the Rutgers deal now.

Looks like Cuse (as of last year) was around $3M annually from Nike.

#BRAND, Syracuse Ranks Middle of the Pack in Sports Apparel Deal with Nike

 

[HawkHusky]

P5 Contracts:

 

[huskymedic]

 

[HooperScooper]

P5 Contracts:

So $5.4 million per year would put UConn 15th overall and Nike's 4th highest. Which is another data point of why it's crazy they're not in a P5 conference. Not to start that conversation again..................