By Dalton Ray–

The University of Louisville and adidas have agreed to a 10 year, $160 million contact extension. Since partnering with Louisville in 1998, the German-based sportswear manufacturer has watched U of L flourish into a national program.

Athletic director Tom Jurich held a news conference in the Thorntons Academic Center of Excellence addressing the deal. Media members sat to the right of the podium, U of L coaches sat to the left and hundreds of Louisville athletes viewed from above in the upper level.

“The big winners from this deal are the people upstairs,” Jurich said. “This money is solely for the student-athletes and the athletic department.”

During his opening statement, Jurich said that he looks for people that will stand by him through tough times. The faith adidas has placed in him and the program is a huge key to this extension.

“It’s great to have a partner like them. They believe in us and we believe in them,” Jurich said. “They’ve been incredible to me and this program. Loyalty is everything to me and they’re the epitome of loyalty.”

Jurich also gave credit to the current and former U of L student-athletes, saying they are the building blocks for this deal.

Nearing the 20th year of marriage with adidas, Louisville is now the brand’s signature college team. The $160 million deal is adidas’ largest collegiate sponsorship.

Chris McGuire, adidas’ senior director of sports marketing, said their partnership with Louisville is unlike any other.

“This is a historic mark for our company,” McGuire said. “We’ll be dedicated to what happens here in Louisville. The future here is unprecedented.”

The contract, $16 million a year, is the fourth highest apparel deal in the nation. Per year, UCLA receives $18.7 million from Under Armour while Texas and Ohio State receive $16.7 million from Nike.

Photo by Dalton Ray / The Louisville Cardinal