Oklahoma's switch to Jordan Brand, which has given the Sooners' image renewed buzz the past two weeks, is worth near $70 million with bonuses.
The Jordan Amendment, which modifies the previous 2004 All-Sport Agreement between OU and Nike, was obtained by The Daily in an open records request on July 25.
Under the revised deal, Oklahoma's supplied product limit for apparel and product increases $6.1 million from 2017-18 to 2023-24, with the total supplied product limit for the life of the Jordan Brand deal at $49.4 million.
OU will receive $19.6 million in compensation for the brand switch. The Sooners, for all sports, were previously going to receive $1.4 million annually through 2024 but will now receive $1.78 million annually from the 2017-18 contract year through 2028.
“Once I noticed that the Jordan brand was interested in moving from the (basketball court) onto a different playing surface, I wanted to make sure that Oklahoma was right in the middle of that discussion,” Oklahoma Athletic Director Joe Castiglione said on Sunday. “Because of our terrific partnership that we have with Nike, we were able to develop that interest and the discussions took off in December of 2016, and we were able to come together and make this happen.”
Oklahoma can receive up to $327,500 in competition bonuses in football, men's basketball, women's basketball and baseball as agreed upon in the 2014 amendment to initial contract with Nike.
Michigan moved to Nike and Jordan Brand from Adidas in August of 2016 on a 15-year contract worth $173.8 million. The contract included an $85 million supplied product limit and $88.8 million (including a $12 million lump sum payment) in base compensation.
Like Michigan, only Oklahoma’s football, men’s basketball and women’s basketball programs will don the Jordan Brand uniforms with the Jumpman logo.
With the switch to Jordan Brand, Oklahoma’s contract with Nike was extended from July 1, 2024, to June 30, 2028. The previous amendment with Nike included an extension to the initial contract from July 1, 2014, to June 30, 2024.
The Nike negotiating request deadline to extend the contract is on July 1, 2027, and the exclusive negotiating end date is on Sept. 1, 2027.
