The New Hanover County Board of Education approved a contract with Nike during its meeting tonight to allow the company to use the Laney High School logo in some of its products.
According to the agreement, Nike also agrees to pay the New Hanover County Board of Education 5 percent of the profits from any product using the Laney logo.
This isn’t the first time that Nike has used Laney products for its own sale. The company set up a contract with the school eight years ago to sell throwback Michael Jordan Laney uniforms, according to Laney athletic director Fred Lynch. Lynch said he didn’t remember the exact total that the contract paid out, but that it exceeded $80,000 over two years.
The agreement signed on Tuesday is significantly different in that it identifies the New Hanover County Board of Education as the licensor of the agreement, meaning that the school board is the party that controls the rights to the individual schools’ logos, and not Laney. The agreement does stipulate that the school board can direct payments to be made to Laney High School, but leaves that distinction in the hands of the Board of Education.