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Michigan, Nike reach deal for up to nearly $174 million

Michigan has secured a deal with Nike for up to nearly $174 million.

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Michigan has secured a deal with Nike for up to nearly $174 million, the university announced Tuesday.

The 15-year deal will take effect on Aug. 1, and will run through the 2027 season. There is an option for an extension through 2031.

The contract was initially revealed last summer, but was not made official until Tuesday, when it was signed by new athletic director Warde Manuel. In August, the Wolverines agreed to switch to Michael Jordan’s Jumpman brand, becoming the first college football team to do so.

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As part of the agreement, which applies to all Wolverines sports, Michigan students will participate in internships at Nike’s headquarters. 

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Michigan made the switch from Adidas to Nike after an eight-year relationship with the brand.​