U.Va. signs 10-year extension with Nike, more than doubles cash, apparel
Posted Aug 13, 2015
Virginia and Nike have quietly extended their partnership for 10 years, more than doubling the cash and apparel the university receives. Signed April 1 and in effect since July 1, the contract, obtained through an open-records request, is worth a minimum of $35 million, or $3.5 million annually. The Cavaliers’ previous deal with Nike, which was set to expire next year, was valued at $11.8 million for eight years, or $1.48 million annually.
(Daily Press)
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