Louisville signed a five-year, $40 million shoe and apparel deal to remain with adidas through the 2018-19 school year, reports ESPN.com's Brett McMurphy.
The school's old deal with adidas paid $2.55 million a year.
In comparison to other deals, Michigan's deal with adidas is for $10 years and worth $82 million and Notre Dame's new deal with Under Armour averages $9 million per year.
Louisville's athletic teams have had success the past couple of years with its football team winning a BCS Bowl in 2013, both basketball programs reaching the Final Four, and the baseball team reaching the College World Series.
Louisville, who has been with adidas for the past 16 years, will make the move to the Atlantic Coast Conference on July 1.STAPLES: Unlimited food? NCAA ruling could add fascinating layer to recruiting