Nike will remain the exclusive supplier of athletic footwear, apparel and
accessories for Alabama's Crimson Tide sports teams through June 30, 2018.
The deal is said to be worth nearly $30 million over seven years. The deal, which new deal takes effect on July 1,amends a contract originally signed in 2002.
Nike will provide funds for two paid internships for Alabama students each summer at the company's headquarters in Beaverton, Ore. The company also will pay Alabama a royalty of at least 12% on the sale of merchandise with the university logo.
In a statement Friday, Alabama said it had affirmed a commitment with
Nike to fair labor practices. “Nike will continue to produce liÂcensed
product and provide prodÂuct to the University made in facÂtories that
provide fair working conditions and operate consistent with the labor
standards in the University's license agreements and Nike's Code of
Conduct,” Alabama's statement said.