IU Athletics agrees to 10-year extension with Adidas
BLOOMINGTON – IU Athletics has verbally agreed to a 10-year extension with long-standing apparel partner Adidas, per a source.
A finalized agreement should come in the next few weeks.
The extension strengthens the relationship between Indiana and the German shoe giant, which has run continuously since 2004. IU last signed an eight-year extension with Adidas in 2016.
Insider: Expect IU's new Adidas deal to look different — because the game is.
Exact terms of the agreement remain forthcoming. Indiana’s current deal is worth $53.6 million over eight years.
But the evolving nature of the relationship between apparel companies and college athletics departments — in an era when those companies can have direct relationships with athletes, rather than essentially paying for access through the department — means compensation will evolve. It’s possible, for example, IU will hope for less compensation in return for greater support in areas like branding, and name, image and likeness.
Multiple IU basketball players have landed lucrative NIL relationships with Adidas in the last two years.
Follow IndyStar reporter Zach Osterman on Twitter: @ZachOsterman.
This article originally appeared on Indianapolis Star: Indiana Athletics agrees to 10-year extension with Adidas
