A couple of weeks ago, we began to hear rumblings that Arizona State was preparing to make the jump from Nike to Adidas, with ASU reportedly looking for the “most lucrative deal” possible. Now, it appears that Arizona State has found that lucrative deal, and it’s with Adidas, as AZCentral.com is reporting that the two parties have reached an agreement for the next 8 years.
From the article:
The deal is worth $33.8 million and makes ASU one of Adidas’ 12 licensed NCAA school and the first new licensing partner since 2009. Other Adidas licensed schools are UCLA, Michigan, Wisconsin, Nebraska, Texas A&M, Cincinnati, Indiana, Kansas, Louisville, Mississippi State and North Carolina State.
ASU is receiving $2,110,000 in equipment and cash from Nike for 2014-15. The Adidas deal is worth $4.225 million annually through June 2023, moving ASU into the top-10 nationally in apparel revenue and second in the Pac-12 behind UCLA based on data compiled by the Portland Business Journal.
Adidas and ASU will be announcing the deal at around 11 am MST, but they may have jumped the gun this morning with an ad that ran in ESPN’s SportsCenter app. Hat tip goes to twitter user and ASU alumnus Joey Artigue for pointing this out to us.
In addition, Artigue had some more details to share, such as the fact that the Pitchfork will be staying, amongst other things. So if you were worried about the Pitchfork leaving with Nike, don’t be.
But there it is: Adidas will be forking over a ton of money to add Arizona State to its list. What do you make of the news?