Duke, Nike Agree to Contract Extension: Latest Details, Comments, Reaction

Adam Wells@adamwells1985Featured ColumnistOctober 15, 2015

SYRACUSE, NY - FEBRUARY 14:  Duke Nike Fearless Shootaround Long-Sleeve worn by a player on Duke Blue Devils before the game against the Syracuse Orange on February 14, 2015 at The Carrier Dome in Syracuse, New York.  Duke defeats Syracuse 80-72.  (Photo by Brett Carlsen/Getty Images)
Brett Carlsen/Getty Images

The marriage between the Duke Blue Devils and Nike will continue for at least 12 more years after the two sides agreed to a new licensing deal. 

According to a press release from the school, under terms of the deal, Nike will serve as the exclusive supplier of uniforms, footwear, equipment and merchandise through 2027. Financial terms of the agreement were not available. 

Per the press release, Duke athletic director Kevin White noted the relationship with Nike has long been fruitful for the university:

Today's announcement relative to this unique relationship signals yet another long-term agreement, which will provide more cutting edge product innovation in addition to significant financial resources, whereby the student-athlete experience will be greatly enhanced - both in and away from competition—well into the foreseeable future.

The Blue Devils have been exclusive to Nike since 1992, when they were in the midst of winning back-to-back national championships in basketball. 

The release also quotes Joaquin Hidalgo, Nike's North American president, who spoke about the values of Duke's athletic department. 

“Duke Athletics is driven by inspired leadership," Hidalgo said, "and commitment to excellence and innovation, which collectively serve as the cornerstone of our partnership.”

It's been a rough time for Nike in the merchandise department, relatively speaking. The company infamously missed out on signing reigning NBA MVP Stephen Curry in 2013, leading to him sign with Under Armour. Around the same time, before he became the best golfer in the world, Jordan Spieth also agreed to a deal with Nike's competitor. 

More recently, the sports merchandise giant did bounce back with its $169 million investment in Michigan athletics, which looks great as the Wolverines football team off to an excellent start. 

Keeping the relationship with Duke alive at least through 2027 is a sound investment, as the Blue Devils are always featured prominently on national television in men's and women's basketball, in addition to having a much-improved football program that's on the verge of making its fourth straight bowl appearance.

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