Nike has outfitted every single team that has made the College Football Playoff since it’s inception back in 2014 and it appears the company wants to continue that impressive streak by locking up one of a regular national title contender.
Clemson and Nike confirmed the details of a 10-year, $58 million contract extension on Friday that keeps the Tigers under the swoosh’s umbrella for the next decade.
“Nike is the one of the premier brands in the world and we’re excited to build upon our relationship,” athletic director Dan Radakovich said in a statement. “Our brand has grown exponentially in recent years, and this continued partnership will enhance the ‘Power of the Paw’ moving forward.”
“Nike is the clear leader among our student-athletes and recruits and we’re excited to continue to provide our players with the best equipment and technology in the market,” head coach Dabo Swinney added. “We have a tremendous partnership and it’s a difference-maker for our program. Being aligned with a global leader like Nike makes the Paw even more powerful.”
The new agreement is just over double the value of the previous deal the two entered into and includes a cash component that skyrockets by six-figures to $400,000 annually. The school was initially outfitted by Nike back in 2002 and is now inked up until 2028 as part of the latest deal, which also bumps up the royalty rate products sold by the program.
While the grand total of $58 million is not quite as much as the mega deals Washington inked with adidas ($119 million) or Ohio State’s whopping $252 million pact with Nike, it’s still quite a bit of coin. According to the Portland Business Journal, the average of $5.8 million a year that the Tigers will receive in total value is still more than ACC peers like Florida State and N.C. State receive and a premium on what others like LSU and Oklahoma State are paid.
Power of the Paw indeed.