UNC announces extension with Nike, and head coach Roy Williams.
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.
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.