The University of North Carolina Tar Heels will be repping for Nike for at least 10 more years. UNC announced their 10-year extension with Nike today worth an average of $6.27 million per year, which will become one of the most valuable college apparel deals, according to Forbes.
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Forbes reports that UNC’s current deal with Nike, which expires this year, netted the Tarheels an annual average of $1.83 million a year, with just $250,000 of that via cash payments. Under the new extension, UNC will average $2.87 million in wholesale product allotment and $3.4 million in cash annually.
In addition to the Nike extension, the UNC basketball program has also announced an eight-year contract extension for head coach Roy Williams. According to BizJournals, with his base salary, supplemental package and new Nike deal, Williams will make at least $2.56 million this season.
The Tar Heels, currently ranked ninth in the country, will take on the #19 Kentucky Wildcats in Chicago on Saturday afternoon as part of the 2018 CBS Sports Classic. That game is scheduled to tipoff at 5:15pm ET.
