The swoosh is no more at Washington.
Late last week, it was reported that Washington was in the midst of negotiations that would decide whether the university’s sports teams would remain clad in Nike apparel or they would switch to rival adidas. Tuesday, UW announced that they have agreed to terms on a 10-year partnership with adidas.
UW had been with Nike since 1997, and has been making in the neighborhood of $3,5 annually from the Oregon-based company in recent years. While the financial particulars weren’t released by the school, the Seattle Times has reported that adidas “has agreed to pay the Huskies $5.275 million annually in cash, $5.58 million annually in product and $1.1 million annually for marketing.”
All told, the 10-year deal is worth $119 million.
UW’s new deal averages out to $11.9 million annually, which is slightly more than the $11.7 million a year Nebraska will be paid by adidas as part of their agreement reached in August of 2017. Per the Times, UW’s adidas agreement is one of the Top 10 apparel deals in the country.
“Like the University of Washington, adidas is a respected worldwide brand, and this unique partnership will position us for great success moving forward,” Huskies head football coach Chris Petersen said in a statement. “We are excited to partner with adidas, and we believe our student-athletes will benefit greatly from this agreement.”