North Carolina has signed a 10-year deal with Nike to be the exclusive supplier of athletic footwear, apparel and accessory products to the Tar Heels, the school announced.
This marks UNC's fourth contract with Nike, and it is retroactive to July 1, 2008.
“The University of North Carolina is proud of its long-standing relationship with Nike,” UNC athletics director Dick Baddour said in a prepared statement. “This partnership has
benefitted all 28 varsity sports and provided millions of dollars for academics and student scholarships at the University.”
In addition to apparel and equipment — the value of which ranges from $2.8 million in the first year of the contract, to $3.4 million in the 10th, for a total of $31.6 million — Nike will give the University $2 million to the Chancellor’s Academic Enhancement Fund. Chancellor Holden Thorp says he will direct the funds to faculty support, according to the news release. The athletics department will also receive $1 million for signing the contract; those funds are being used to overhaul lighting and sound at the Smith Center.
Nike has also entered into individual contracts with each of UNC’s head coaches; only seven coaches had individual contracts with the company in the past.
UNC and Nike also affirmed their commitment to fair labor practices, which they adopted in the 2001 agreement — meaning Nike will continue to produce licensed products and
provide product to the University made in factories that provide fair working conditions and operate consistent with the labor standards in the University's license agreements and Nike's own Code of Conduct.
-- Robbi Pickeral