Michigan and Nike are set to embark on a groundbreaking partnership, one that will pay the University athletics program $169 million over a 15 year period, the school released Wednesday.
The Wolverines previous apparel deal with Adidas ends July 31, 2016, allowing Nike the opportunity to swoosh in and hand out the largest deal currently in college sports.
As part of the contract, Michigan will receive $76.8 million in cash over 15 years, as well as $80.2 million in apparel. The Wolverines will have the option to continue the partnership for four more years after the 11th year comes to a close, also receiving $12 million in cash upon signing.
Comparing Michigan's new deal with Nike to some of the other richest contracts in college athletics, the Wolverines claim first place by a mile, nearly doubling Texas who is behind with a deal that equates to $5.56 million in cash and $5.76 million in apparel.
Michigan's biggest rival, the Ohio State Buckeyes and defending national champion, come in seventh in the nation with a Nike deal paying the school $3.6 million in cash and $4.2 million in apparel.
Michigan and Nike will be reunited in August of 2016, igniting a former flame and relationship that existed from 1994-2007.