Thursday, April 19, 2012

Boise State, Nike Agree to $6 Million Deal

Posted By on Thu, Apr 19, 2012 at 12:00 PM

The State Board of Education, now in its second day of meetings in Moscow, is expected to green light a new six-year, multi-sport apparel contract with Nike, the Oregon-based sportswear and equipment supplier.

The plan totals $6.24 million, retroactive from August 2011 through June 2017. In addition to receiving $6 million worth of product and equipment, Nike would pay Boise State $30,000 each year for the first two years of the deal, $40,000 in the third and fourth years and $50,000 per year in the final two years. The deal also includes an extra $75,000 in product allowance once the Bronco's football program joins the Big East in 2013.

Additionally, there are hundreds-of-thousands of dollars in bonuses if the football team or men's or women's basketball teams win conference championships or tournament championships.

But there's a big caveat: Nike is allowed to reduce its cash payments if Chris Petersen departs Boise State as the head football coach.

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