As reported earlier, the University of Cincinnati athletic department is discontinuing its relationship with Adidas, and has signed a deal to make Under Armour the official outfitter and supplier of Bearcats athletics. Today, the Portland Business Journal reported the terms of the deal.
"The 10-year deal includes more than $11 million in cash and more than $36 million in equipment, making it worth in excess of $47 million.The university will get $1 million in cash and $3.5 million in equipment in the first year of the deal, according to a letter of intent obtained by the Business Journal through a public records request."
Effective at the end of this school year, Under Armour will become UC’s official supplier for 10 years, with the contract ending in June of 2025. Cincinnati will receive $36M in equipment and $11M in cash over the life of the contract. During the 2015-16 school year, UC will receive $1M in cash and $3.5M in equipment. The cash amount is almost double what UC earned from Adidas in 2014-15 ($525,000), and the school will receive $1.4M more in Under Armour equipment during the first year of the deal.
Believe it or not, UC’s new deal actually eclipses what Oregon and Ohio State made from Nike in 2014-15 (there is a great database search tool at the bottom of this article, again courtesy of the Portland Business Journal). This kind of step up for UC athletics is huge.