Nike Deal 11 yr, $169 mil
BREAKING: Michigan says its deal with Nike from 2016-2027 is worth $169 million w/$76.8M in cash alone)
— Darren Rovell (@darrenrovell) July 15, 2015
EDIT: And this...
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
Wow.
Give him the Cadilac Eldorado & the Steak Knives
Jimmy and $$Nike$$...Hacket Always Be Closing
I cant believe Nike paid that!
suck on that notre dame, msu and osu
#HarbaughEffect #HackettForPresident #Michigan #GoBlue
What about Tennessee though?
"The deal is an eight-year, $35-million agreement, which puts Tennessee in the top 10 among colleges with Nike agreements."
Oh....LOL.
Hackett at Deja Vu
And many were worried about going with Nike because Michigan wasn't going to get paid like they would with Adidas.... so about that...
Wow Crazy! UA and Adidas
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
DAMN
Kevin Durant got 10 years, $300 million from Nike. Manchester United was 13 years $312 million.
Holy sh*t at that Kevin Durant contract
I like Durant, but he's got bad feet and I never see people wearing Durant-style/logo/inspired Nike clothes/shoes. In other words, if they were trying to recreate the whole Air Jordan thing, they failed miserably.
I coach 7th grade boys basketball and I'd say most of my kids have at least one pair of KDs. Some have multiple.
KD's a widely popular. Jordan is Jordan obviously he doesn't touch that, but of the contemporary players his brand is the most popular.
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I stand corrected. I did coach youth basketball for four years and the thing I noticed most was the socks, not the shoes. When I was a kid, we wore knee-high, white tube socks (think Michael Cooper). Nowadays, all the kids are wearing fluorescent socks that would look great with UNIFORMZ.
EDIT: apparently my original comment made sense two years ago. Now? Not so much. See:
http://www.forbes.com/sites/kurtbadenhausen/2014/02/06/lebron-and-duran…
Cigars and champagne for Hackett. Again.
I wonder if there is a clause stating it must be the largest as other deals are made in the future as the adidas contract had.
Almost $100M is not cash...should be interesting to see how this is being done.
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Handjobs. $3 dollar handjobs. Lotta handjobs.
Nike pays Michigan $5-6M per year in cash, and provides $5-6M in product/apparel to outfit the athletes, coaches, etc.
I believe that 100M is being paid in Moose Jaw Centennial Wooden Bills.
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UM-Nike deal details (per UM release) -- base compensation Yr 1 $4,820,000. Yr 15 $5,820,000. Product supply Yr 1 $5,300,000. Yr 15 $6 mill
Michigan gets $4.82M in cash for each of the first 10 years of the contract with Nike, then $5.32M for 2026-27.
The $76.8M in cash Michigan would receive is only if the final 4 option years ($5.82M per) are included. So, only $53.52M is guaranteed.
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Cow!
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That's $15.36 milllion per year. That's even larger than the rumored offer texas got from under armour ($15 millioin per year).
http://www.burntorangenation.com/2015/5/28/8677001/texas-longhorns-appa…
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Money fight!