Play around with the database at this
link and you can see what's going on.
Florida State University ACC Nike $4,400,000
The University of North Carolina at Chapel Hill ACC Nike $3,550,000
North Carolina State University ACC Adidas $3,025,000
Georgia Institute of Technology ACC Russell Athletic $2,300,000
University of Virginia ACC Nike $1,575,000
Virginia Polytechnic Institute and State University ACC Nike $1,275,000
Clemson University ACC Nike $1,000,000
Whatever connections between Russell and Tech, or even if none, presumably the AD who signed the contract at the time found that this was the best available as far as compensation to the school. AD's are almost always going to sign the most lucrative deal . . . and not go for a less lucrative deal just because some other manufacturer is sexier.
Tech's contract seems to run through 2017 or 2018. Since no extension has been signed at this time I am going to guess that MBob is researching and working on what available deals can be negotiated and out there for him for beyond 2017/18. Unless you think Adidas or whomever would want to come in and
offer to buy out a contract that Tech has with Russell, then you need to wait a couple years to see what sort of contract MBob works out to extend with Russell or go to a different supplier.
But given that Tech has a better deal (as of August 2014) than VPI and Clemson . . .
COMBINED . . . then I think it is pretty clear why Tech went with Russell and is honoring their contract to them.
Maybe MBob will be testing the waters and taking competing bids with all vendors over the next couple years and if Tech has continued on-field success in football then it may just be the honey that draws the flies.