May 13, 1999 - by
Florida State and Nike Extend Contract

Florida State and Nike Extend Contract

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May 13, 1999

Tallahassee, FL — Florida State University Director of Athletics
Dave Hart and Nike’s Director of College Sports Marketing Kit Morris
announced Thursday that Florida State’s existing Nike Partnership has been
extended through the year 2005.

The initial Agreement signed in 1995, worth over six million
dollars to Florida State in a combination of product and financial
compensation, was considered one of the most lucrative contracts of its
kind nationally.

Florida State officials value the new contract at over 20 million
dollars over the seven-year period. As a part of the new agreement, the
University will realize one and half million dollars for academic purposes
at the discretion of the university president.

Each of FSU’s 20 sports will be outfitted with Nike footwear,
equipment and apparel during the term of the contract and Nike is making a
one million dollar contribution to FSU’s Captial Campaign for Athletics.

“We believe in extending this partnership with Nike we have secured
an extremely comprehensive and lucrative contract which meets the needs of
our university and athletics department, while affording us appropriate
reassurances relating to labor practices,” said Hart.

“We are appreciative of Nike’s cooperation, assistance and ongoing
relationship with Florida State University as well as their high quality
products,” Hart added.

“Florida State is an outstanding university with a demonstrated
commitment to excellence in all phases of intercollegiate athletics. We
share this commitment to excellence and are proud to build upon our
existing relationship through continued support of Seminole athletes,
teams, coaches and staff,” said Morris.

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