It’s a good time to celebrate in Chapel Hill today as Forbes has announced that the University of North Carolina has signed a 10-year extension with its apparel sponsor, Nike.

Reported by Forbes, the deal is worth an average of $6.27 million a year though it doesn’t factor in the $3.3 million the school will score annually off merchandise royalty guarantees. For reference, UNC was making $1.83 million a year from Nike off their previous deal that began in 2008 and expires this year. Nike headlines the deal, readers are sure to know that Nike, Inc.’s beloved Jordan Brand outfits both the Tar Heels hoop squads and football team. Both sports take to competition in Jumpman branded uniforms while also receiving player exclusive retro Jordans valued in the thousands.

Shout out to UNC on the deal and stay tuned for more PE pairs for the squad.