Under former athletic director Lew Perkins, the department's budget increased from $27.2 million in 2003 (10th in the conference) to currently over $50 million thanks in large part to money raised from a new priority seating policy at Allen Fieldhouse, a new $26.67 million eight-year contract with Adidas replacing an existing contract with Nike, and a new $40.2 million seven-year contract with ESPN Regional Television.