Adidas' $160 million contract with Louisville could be in jeopardy after FBI bribery investigation

Business Insider | 10/3/2017 | Kate Taylor
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University of Louisville is reevaluating its $160 million sponsorship deal with Adidas after a bribery scandal rocked the university.

After an emergency trustee meeting on Monday, the university's interim president, Greg Postel, said that the school would "have to look at" the contract, ESPN reported.

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Last week, head men's basketball coach Rick Pitino was placed on indefinite unpaid administrative leave after Louisville's basketball program was linked to an FBI investigation of bribery in college basketball. The school's athletic director, Tom Jurich, was also placed on paid administrative leave.

An undercover agent accused an Adidas executive and several other defendants of funneling $100,000 to the family of a high-school basketball player to persuade the player to sign with an unnamed public research university in Kentucky.

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The complaint in which the allegation appeared doesn't name the university, but it has since been confirmed to be Louisville, which signed a $160 million sponsorship deal with Adidas in August — one of the most expensive college basketball sponsorship deals in the NCAA.

Postel wrote in a letter addressed to Jurich last week that the athletic...
(Excerpt) Read more at: Business Insider
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