Michigan’s contract with Nike, announced last July, finally has been completed and signed and is valued slightly higher than former interim athletic director Jim Hackett, who brokered the deal, had originally revealed.
It is not unusual for such a delay in signing an apparel contract because of all the legal machinations. The contract, obtained by The Detroit News through an open-records request, was finalized and signed by new Michigan athletic director Warde Manuel and several Nike executives on March 16, 2016.
Michigan’s Nike deal launches Aug. 1 and it will pay the university at least $173.8 million through 2031, if Michigan opts to extend the contract beyond 2026-27.