Nike, Oregon Reportedly Agree to 11-Year, $88 Million Apparel Contract

Nike and the University of Oregon have reportedly reached a tentative agreement on a new 11-year, $88 million apparel deal. 

According to the Oregonian's Jeff Manning, the Oregon Board of Trustees is scheduled to vote on the updated terms at a meeting on Dec. 7.  

Manning added the new deal, if ratified, will see Nike pay Oregon between $2-$2.5 million annually in cash while providing somewhere in the range of $5-6 million worth of apparel to the Ducks' athletic teams each year. 

Those numbers represent significant bumps from the current agreement which ends in June. 

As things stand, Manning reported Nike's annual payouts clock in at $750,000 in cash and $2.5 million in apparel. 

The revised contract is a natural step for both parties. 

Oregon has become renowned for boasting some of the most innovative and flashy on-field and on-court apparel in college sports, and it's been able to earn that label thanks to its relationship with alumnus, Nike co-founder and prominent Ducks booster Phil Knight.