Nike and Michigan have officially sewn up the deal they agreed to last summer according to College Football Talk. It was set to be the largest apparel deal until Texas and Nike blew that number out of the water with a $250 million deal that they signed in October. Then Ohio State beat that number with another deal of its own.
RELATED: Michigan's new contract with Nike is ridiculously large
Tuesday morning, Michigan announced that it has finalized and updated its agreement with Nike to become the university's the official athletic footwear, apparel and equipment provider, with the new deal taking effect Aug. 1 of this year. Now thew deal is worth $173.8 million assuming it runs the entire 15 years. The deal includes a $12 million initial payment to the university, $76.8 million in total annual payments and $85 million in apparel. The new deal runs through 2027, with a university option to extend the agreement to 2031.
[h/t College Football Talk]
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