TUSCALOOSA (AP) — Alabama and Nike have extended an agreement through 2018 that the university said would be worth nearly $30 million over seven years.
The deal announced Friday amends a contract originally signed in 2002. Nike will remain the exclusive supplier of athletic footwear, apparel and accessories to Crimson Tide sports teams through June 30, 2018. The new deal takes effect on July 1.
Nike will provide funds for two paid internships for Alabama students each summer at the company's headquarters in Beaverton, Ore. The company also will pay Alabama a royalty of at least 12 percent on the sale of merchandise with the university logo.
Athletic director Mal Moore says the deal reflects the stature of both Nike and an athletic program that produced a national championship football team last season.