Michigan’s new apparel deal with Nike could be worth up to $169 million, according to details of the agreement released by the university on Wednesday, giving the Wolverines what could be the richest apparel deal in intercollegiate athletics.
The university had announced last week that it had agreed to switch to Nike from Adidas.
The deal contract begins in August 2016 and would last into 2027, though Michigan has an option to extend it to 2031, at which point the full $169 million value would be realized at a rate of roughly $11.3 million per year.