The University of Michigan athletic department has officially signed its apparel deal with sports giant Nike and will take effect on Aug. 1.
The deal, which was signed by new athletic director Warde Manuel on March 16, is for $173.8 million total through 2031 should the university decide to extend the deal as far as it can go. The original reported number was $169 million following the announcement of the apparel switch from Adidas last July.
Michigan will be paid $85 million in apparel and other Nike products through the duration of the 15-year contract on top of $88.8 million in base compensation, which included a $12 million lump sum payment within 10 days of the deal being signed on March 16.
There are also incentive-based payments for football and basketball, which include:
With all of this of course comes the use of the "Jumpman" brand for the basketball and football programs. Michigan Football will be the first school in the country with the Jumpman logo on its gear.