Most of the actual backport work is done by the OpenJDK participants, notably people from Red Hat (like me), SAP, Amazon, Azul and others. Oracle does not participate in OpenJDK 8u/11u directly, opting to maintain their separate tree, from which they build Oracle JDK 8u/11u available under the commercial license. There is also a security collaboration between many companies (OpenJDK Vulnerability Group), which drops its deliverables in relevant source trees.
At one point, I tried to draw this map to show the bird's eye view on the landscape: https://shipilev.net/jdk-updates/map/ -- you can find AdoptOpenJDK there.
What gets people confused is http://openjdk.java.net/ linking to Oracle distribution (either at jdk.java.net, or Oracle site). That might be seen as "OpenJDK providing the binaries", but it is actually not: it links to one of the distribution providers.
BTW, the recommended path is free perpetual support by using the current JDK version that, under the new gradual release model, means you'll never have to do another major upgrade again. Staying on old JDK versions will be more expensive, even if you're using a free distribution.
It was my mistake to mention other vendors in the thread that is about AdoptOpenJDK. I just wanted to show where the AdoptOpenJDK sits in the larger OpenJDK ecosystem: they are important builders and distributors.
Implying applications always receive continued development...
https://adoptopenjdk.net/upstream.html
Note that these are different binaries, build by RedHat not by AdoptOpenJDK. They are distributed there because the Java 8 and Java 11 OpenJDK projects are not allowed to post builds on https://jdk.java.net.