The figures for Michigan’s apparel deal with Nike were announced on Wednesday. The 11-years, $169 million dollar deal the Wolverines signed with Nike blows out every other college’s apparel deal by a lot.That said, did Michigan still turn down money to return to the swoosh?
According to sources of Darren Rovell, both adidas and Under Armour offered more than the deal accepted by the Wolverines.
Most outrageous part of the Nike-Michigan deal for $169 million? Sources tell me Nike WAS THE LOWEST BIDDER.
— Darren Rovell (@darrenrovell) July 15, 2015
Interim AD Jim Hackett had this to say as for why Michigan agreed to a deal with Nike back on July 6th:
“After careful consideration, the right partner for the University of Michigan was Nike. This decision is about more than Michigan athletics; at the core, it is about our University community and it is about two great names reuniting for an opportunity that speaks to more than uniforms and apparel.”
If you’re looking for another way to look at the Michigan – Nike deal:
To put that in perspective: Michigan will make as much money from Nike each day as the average American earns each year.
— Alejandro Zúñiga (@ByAZuniga) July 15, 2015