Financial details of the FAMU + Nike +LeBron deal are beginning to emerge, over the six-year contract that commences in July, Nike will provide FAMU $3.3 million worth of retail product and $1.2 million in cash in the form of scholarships.
The deal calls for Nike will to spend another $200,000 a year promoting FAMU and FAMU athletics.
FAMU will receive additional financial cash benefits if its men’s or women’s basketball teams win a conference championship and make the NCAA tournament.
The deal calls for Nike will to spend another $200,000 a year promoting FAMU and FAMU athletics.
FAMU will receive additional financial cash benefits if its men’s or women’s basketball teams win a conference championship and make the NCAA tournament.
The proposed agreement includes an option for an additional two years that would provide another $1.28 million in retail product to FAMU’s athletic department through the summer of 2029.
Nike commits to enlist a “top-tier Nike asset” each year to promote FAMU—the proposal specifically mentions LeBron James, rapper Travis Scott and tennis player Naomi Osaka as examples.
The details came to light through a public records request, by Sportico , which obtained a copy of the contract.
As Nike’s “Flagship HBCU,” the sponsorship proposal states, FAMU will continue to receive the largest product allocation of any HBCU university during the term of the contract, according to the publication.
FAMU's current NIKE contract is through the Mid-Eastern Athletic Conference, that deal is set to expire in June, when the Rattlers move to the Southwestern Athletic Conference.