The University of Colorado Athletic Department and Nike, Inc., have reached an agreement to extend their partnership that started in 1995, announced CU athletic director Mike Bohn.

The agreement, effective next July 1, the end date of the current five-year deal between the two, is a 10-year deal worth approximately $20 million in equipment and financial support for the school from one of the world’s largest shoe, apparel and equipment manufacturers.

The new deal runs through June 30, 2016 and is the third time the two will have signed a contract. The Buffaloes and Nike first brokered a partnership back in 1995, when CU was one of the first schools in the nation to make such an arrangement as an entire department, as previously head coaches often has inked their own deals.

It is estimated that the CU-Nike agreement would likely be valued as one of the top 20 or 25 in college athletics, which directly impacts and benefits all 17 of CU’s intercollegiate programs. It includes a significant increase in footwear for CU’s national champion men’s and women’s cross country teams.

The general breakdown of the 10-year deal includes:

  • Supplied Product. Nike will provide the university with shoes, equipment and/or practice.

  • University Use. Nike will make products available at special pricing to the University of Colorado Recreation Department (club sports and intramurals) and for the CU Golden Buffalo Marching Band.

The pair has a long history of working together, dating back to 1990, when the men’s basketball team first started wearing Nike footwear. The women’s volleyball team followed suit two years later, with the agreement for the entire department soon after that. The two also have worked together on several apparel and equipment initiatives, e.g., the first football uniforms with a built-in system to help provide athletes regionalized cooling underneath their game jerseys and padding.

“We are very excited to extend our relationship with Nike, and to take it to a higher level,” Bohn said. “We are fortunate and honored to have developed this strong partnership with the leader in sports apparel and equipment. Nike possesses incredible vision, professionalism and commitment to excellent in its truest form, and this foundation is significant for us in order to facilitate further growth of all of our sports.”