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Michigan Officially Signs Nike Deal for $173.8 Million, Takes Effect on Aug. 1

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The deal is officially official after the announcement 10 months ago.

Matthew Emmons-USA TODAY Sports

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:

  • $10,000 for a football appearance in the Big Ten Championship game
  • $20,000 for a football win in the Big Ten Championship game
  • $25,000 for making the College Football Playoff
  • $50,000 for making the College Football Playoff title game
  • $100,000 for winning the College Football Playoff
  • $25,000 for a men's basketball national title
  • $10,000 for a Big Ten men's basketball title
  • $3,500 for a top-five men's basketball ranking and/or .950 winning percentage
  • $7,500 for a women's basketball national title
  • $5,000 for a Big Ten women's basketball title
  • $3,000 for a top-five women's basketball ranking and/or .950 winning percentage
  • 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.