Nike will extend its sponsorship deal with the University of Kentucky through 2025, according to the Portland Business Journal.
According to the report, UK Athletics and Nike signed an eight-year extension on to the parties’ previous contract with each other back in April 2013. The original deal was set to expire in 2017.
The deal is reportedly worth up to $30.6 million for UK. The university will receive $1.8 million each year, with an annual apparel allowance rising to $2.125 million by the last year of the deal. The extension makes it Nike’s seventh highest monetary contract.
Nike also signed an extension with Florida and Florida State recently.
