Clemson, Nike agree to 10-year, $58 million extension
CLEMSON, S.C. (AP) — Clemson has agreed to a 10-year extension with Nike to keep outfitting Tiger athletes through 2028.
The deal valued at $58 million was announced Friday by Clemson athletic director Dan Radakovich. The agreement extends the partnership with Nike, which began in 2002.
Clemson says the new deal doubles the value of its previous pact with Nike and will include yearly payments of $400,000, an increase from $115,000. Clemson’s royalty rate for co-branded Clemson-Nike products also increases from 11 percent to 14 percent.
Clemson football coach Dabo Swinney says the Nike partnership has been “a difference-maker for our program.”
Nike’s NCAA business director Brian Fairben says a Nike team took a trip to Clemson last year and was impressed with the overall state of its athletic program.