Come the summer of 2019, the University of Washington Huskies will ditch the Nike Swoosh they've worn for the last two decades in favor of the Three Stripes.

Seattle Times reports that the Huskies have agreed to a $119 million apparel deal with Adidas, one of the most valuable in all of college sports. The fine print of the deal stipulates that Adidas will pay the team $5.275 million in cash every year, along with an additional $5.58 million of product yearly and a $1.1 million annual marketing budget. And if Huskies teams win Pac-12 or national titles, the university stands to receive additional payouts of up to $500,000.

"We believe this partnership will allow us to provide a new competitive edge to our coaches, student-athletes and our incredible fan base," said Jennifer Cohen, UW athletic director. "After meeting with their leadership team, it was clear that Adidas understands what makes Washington special and I believe their passion for this partnership will resonate deeply with all who call themselves Huskies."

The jump brings an end to the Huskies' 20-year partnership with Nike, who, according to reports, was the only other brand in negotiations with UW.

Although the school has agreed to the sponsorship, there's still one more hurdle: the UW Board of Regents must approve of the deal this week before it's finalized.