Michigan will officially begin their relationship with Nike on August 1st, the university announced on Tuesday morning.
The deal between the two parties, which was originally reported to be around $169 million, will actually come to a little over $173 million also. All 31 of Michigan’s athletic teams will be supplied with uniforms and equipment.
Here’s the breakdown of U-M’s terms: a $12-million initial payment to the university, $76.8 million in total annual payments and $85 million worth of apparel.
According to a university news release today, there are a few other points of interest:
• Use of the Jumpman brand for basketball and football, which will make U-M the first Jumpman football program in the country.
• Collaborating on innovation in sports technology, a pitch that intri...Read More