white adidas flux Here’s why it’s a good deal
After seven months of negotiations for a new apparel and athletic accessories company, Rutgers in February announced a six year pact with adidas.
On Saturday, July 1, Rutgers’ adidas deal through the 2023 24 school year officially begins. It impacts every Rutgers varsity sport for which adidas provides equipment, apparel or footwear.
While the adidas deal is short on cash, the contract includes incentives that could improve the Rutgers athletics program’s financial fortunes annually, an NJ Advance Media review of the deal revealed in February.
The value for product allotments began at $1.7 million in Year 1 and ended at $1.8 million in Year 6. The overall value is $10.35 million, and breaks down like this:
Year 1: $1.7 million (retail value)
Year 2: $1.7 million (retail value)
Year 3: $1.7 million (retail value)
Year 4: $1.7 million (retail value)
Year 5: $1.75 million (retail value)
Year 6: $1.8 million (retail value)
Rutgers football won’t be the only team to receive new uniforms for this season. Every Scarlet Knights squad will don new threads.
Because of the need for Rutgers to change over uniforms in Year 1, adidas will give Rutgers a $300,000 sign on bonus in product (retail value) to be used in Year 1 to assist with the transition to the adidas brand.