The Empire lives
Tying up commercial activities of the whole organisation for 25 years is madness regardless of the money. You can't say Nike to a great job promoting the interests of T&F in the USA as it is.
uphill run wrote:
No offense to all the haters of Nike and USATF, but is there even one other shoe company willing to invest $20 million over a 5-year span on the sport? Nike is now paying that annually. I don't disagree with calling out how dumb agreeing to something until 2040 is. It's a horrible business move from a long-term perspective, but USATF just tripled there budget from one sponsorship move, got a nice increase from their new 7-year deal with Hershey and have at least two more sponsorship deals coming.
That was my first thought. Chicago sold the meters for something like 75 years. It was apparent within a year that it was a colossal mistake.
About as dumb as Chicago selling its parking meters...
Given some comments about additional uniforms for para and masters, one has to assume a bunch of the increase is product not cash. These deals are grossed up for retail value (so a typical athlete kit is thousands times 500-1000 kits per year for old deal means several mil of the 8M is not cash).
$500 million is the number being reported.