BEAVERTON, Ore.—Nike proposes an $88 million, 11-year deal to the University of Oregon that includes athletic apparel and accessories such as shoes. A recent report by The Oregonian says the company’s proposal renews a deal that currently provides the school with $750,000 a year in cash and $2.5 million a year in Nike products such as athletic wear.
The news outlet states that with the new deal, the corporation would pay as much as $2.5 million in cash to the university annually and provide roughly $5 to $6 million in apparel and various sports gear per-year for athletic programs. Oregon’s current contract with Nike expires in June 2018.
Nike’s proposal also comes as sports apparel companies continue to strike large-scale licensing deals with major universities. According to ESPN.com, the company holds apparel and footwear contracts that range from approximately $174–250 million at other schools. Meanwhile, Under Armour signed an agreement with UCLA in 2016 for a 15-year, $280 million deal that includes clothing, shoes, and equipment.
The Oregonian says the Oregon Board of Trustees will consider the deal with Nike on Dec. 14.