Indiana announced on Tuesday morning that it has extended its apparel agreement with adidas through 2024. The total value of the deal is $53.6 million.
The athletic department’s current deal with adidas expires next summer. The full release from IU is available after the jump:
BLOOMINGTON, Ind. – Indiana University Vice President and Director of Intercollegiate Athletics Fred Glass announced today that IU Athletics has extended its apparel agreement with adidas for eight years through 2024. The agreement, signed by all parties Monday, is worth $53.6 million and nearly doubles the annual commitment by adidas to IU Athletics from $3.7 million to $6.7 million over their previous agreement, an increase of 81 percent – making it one of the nation’s largest.
“We are thrilled to continue our longstanding relationship with adidas,” said Glass. “Having one of the nation’s largest equipment and apparel deals will have an enormous impact on IU, our teams, coaches, and student-athletes. IU Athletics and adidas have enjoyed a tremendous history together, and we are excited to carry that tradition into the future.”
In addition to outfitting the Hoosiers, adidas will provide IU Athletics with a full branding audit to ensure a uniform and consistent look across all 24 varsity sports. The agreement provides for an annual alternative football uniform, including helmets, as well as an optional alternative uniform each year for men’s basketball. The agreement also includes a marketing commitment where the global footwear and apparel leader will co-brand with IU Athletics in marketing campaigns, social media efforts, and in-store promotions.
“Since 2004, we’ve worked closely with the Hoosiers to bring our best and most innovative footwear, apparel and accessories to all men’s and women’s sports,” said Chris McGuire, senior director of Sports Marketing at adidas. “We’ve enjoyed a successful partnership with Indiana and look forward to continuing to collaborate to help their athletes perform at the highest level.”
“This agreement is the fifth largest known such agreement in college athletics,” said AJ Maestas, President & Founder of Navigate Research, which was engaged by IU Athletics for a valuation study during its yearlong preparation for this agreement. “Hoosier Nation should celebrate the continued relationship with adidas and an offseason victory for athletics.”
“Navigate was great to work with and gave us great confidence that this new agreement helps us to realize our maximum value in the marketplace,” said Glass. “I would also like to publicly recognize the great work of our IU team, without whom this new agreement simply would not have been possible: Eric Neuburger, Associate Athletic Director for Facilities & External Alliances; Tim Rice, Executive Director of Purchasing & Strategic Sourcing; Valerie Gill, University Director of Licensing & Trademarks; and Stephen Harper, Assistant General Counsel.
Indiana fans will be able to purchase official sideline apparel, coaches’ shirts, hats, jerseys, performance apparel and outerwear at a wide variety of quality retailers including the IU Varsity Shop as well as on the official athletics website.
Indiana University Athletics represents one of the strongest athletic traditions in the nation, having won 25 national team championships, 171 Big Ten Conference team titles, 1,036 individual Big Ten titles and 145 individual NCAA titles, while producing 205 Olympians, 50 gold medal winners and 96 overall medal winners.
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 Indiana, Arizona State, Kansas, Louisville, Miami, Michigan, Mississippi State, Nebraska, North Carolina State, Texas A&M, UCLA and Wisconsin. adidas has marketing agreements with the National Basketball Association, National Football League, Major League Baseball and Major League Soccer.
Tom Crean, Men’s Basketball Head Coach
“We really appreciate the care and attention we all get from adidas. We look forward to the continued growth of the relationship.”
Kevin Wilson, Football Head Coach
“Our partnership with adidas is one of confidence and trust. We really like and are very comfortable with their footwear and apparel, evidenced by Tevin Coleman signing with adidas right out of school. We are excited to continue this partnership.”
Todd Yeagley, Men’s Soccer Head Coach
“We are very excited to continue our special partnership with adidas. We have been with adidas from our first varsity kick in 1973. adidas is the global leader in soccer, providing our team with the finest footwear and apparel on the market.”
Teri Moren, Women’s Basketball Head Coach
“adidas has been a great partner for IU women’s basketball and we are excited to continue that partnership. I’m thrilled to have an industry leader like adidas outfit our team as we build our program to compete at the highest level.”
Filed to: adidas