Dow: / NASDAQ: / S 500:CHAMPAIGN, Ill. (AP) Details of the University of Illinois athletic department new 10 year contract with Nike show that the school will get more gear but less cash than it did in its previous deal.The school sports licensing director says the university will get $4 million annually in shoes, jerseys and other apparel from Nike, and therefore won have to pay the sportswear company between $300,000 and $500,000 a year for extra products to outfit its teams like it has in recent years.The university announced last week that it had extended its Nike partnership through the 2025 26 school year with a contract valued at $44.5 million.The prior agreement, which expires July 1, provided the university with $1.2 million in apparel and $325,000 in cash per year. The new contract has no upfront sponsorship payment.The new contract provides $4 million worth of apparel in the first year, increasing by $100,000 each year of the contract.
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