Nike Inks Biggest Apparel Deal In College Sports With University Of Michigan

Nike Inc. has inked the biggest apparel deal in college sports in an agreement with the University of Michigan, Jim Hackett, the school's interim athletic director, announced at a press conference Wednesday. The $169 million deal begins August 1, 2016 - when Michigan's deal with Adidas expires - and runs through 2027, with an option to extend to 2031. The deal beat out Under Armour Inc.'s agreement with Notre Dame signed last year, which was valued at $90 million for 10 years. Nike beat out Under Armour and Adidas for the deal.