Michigan's new contract with Nike is worth $169 million. The 11 year contract gives Big Blue $12 million up front, $76.8 million in cash paid over the life of the deal and $80.2 million in apparel. The contract begins in August 2016 and includes a school option for four additional years. Including the option, it averages to about $11.25 million per year.
This is bigger than the Notre Dame deal with Under Armour, which has been reported to be worth about $90 million over 10 years, but ESPN Business reporter Darren Rovell says his sources tell him the Notre Dame deal is still bigger than Michigan's. As a private school, Notre Dame is not required to make its contracts public.
For those who care, UM's Adidas deal is worth $8.2 million per year according to the Portland Business Journal, with a school option to extend for an additional 5 years, which the school declined.
UCLA's current deal with Adidas is worth $7.5 million per year. That deal runs through 2017, but contains an exclusive negotiating period which expires on April 2, 2016.
What will Dan do?