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Michigan contract with Nike worth up to $169 million

Michigan interim athletic director Jim Hackett didn't hesitate when asked whether U-M's Nike contract was the largest in the nation. Maybe because he couldn't see the next one back. According to a term sheet dated July 6, Michigan would receive $169 million over the 15-year agreement, with $12 million in upfront money, $76.8 million in additional cash over the course of the deal and $80.2 million in apparel for the school's 31 teams. That is an average of $11.3 million per year. Michigan has the ability to opt out of the contract after 11 years. The deal, which starts next August, would be worth a total of $122.3 million if U-M declines the option years (2027-31). The...