According to a copy of the contract obtained by The Atlanta Journal-Constitution, Tech’s deal will net (as a nonprofit organization, the Georgia Tech Athletic Association in tax-exempt) $750,000 in cash per year from Russell for each of the next four years, increasing to $950,000 for each of the final two.
Plus, Russell will give Tech $1.1 million in athletic apparel (retail value) each of the next four years, ramping up to $1.35 million in each of the final two years. If Tech needs more gear, the Jackets will pay wholesale.
Tech will also get a wholesale price break on various equipment, $100,000 per year in apparel for camps and clinics, $100,000 a year in apparel for staff members, and two Russell internships per year for Tech student-athletes.
Russell will get various football, basketball and baseball tickets, continued advertising signage rights at Grant Field and Alexander Memorial Coliseum, parking passes, some use of Tech facilities for meetings and other perks.
There are incentives for Tech, too.
Russell will pay Tech $20,000 if it wins the ACC football title, $50,000 if it wins a BCS bowl game, or $100,000 should the Jackets be national champions. Other incentives relate to men’s and women’s basketball, baseball, volleyball and softball.
“[Russell has] been a long-time partner, but they did not try take advantage of that partner status,” Radakovich said. “They stepped up and moved us into the upper echelon of the market with this new deal.”