Nike will remain the exclusive supplier of athletic footwear, apparel and accessories for Alabama’s Crimson Tide sports teams through June 30, 2018.

The deal is said to be worth nearly $30 million over seven years. The deal, which new deal takes effect on July 1,amends a contract originally signed in 2002.

Nike will provide funds for two paid internships for Alabama students each summer at the company’s headquarters in Beaverton, Ore. The company also will pay Alabama a royalty of at least 12% on the sale of merchandise with the university logo.

In a statement Friday, Alabama said it had affirmed a commitment with Nike to fair labor practices. "Nike will continue to produce li?-censed product and provide prod?-uct to the University made in fac?-tories that provide fair working conditions and operate consistent with the labor standards in the University’s license agreements and Nike’s Code of Conduct," Alabama’s statement said.