2 million most lucrative public deal in America
While a few of those looks may have been hard on the eyes, Michigan strapped those jerseys, pants and shorts on their student athletes with little hesitation. And, for good reason.
According to a Michigan’s contract with Adidas (which is currently set to expire in 2016) is the most lucrative public apparel deal in the country. Yes, more than Oregon’s flashy contractual arrangement with Nike.
Per the study, Michigan currently receives a total of $8.2 million annually from Adidas stemming from the contract signed in 2007 between the two parties.
Michigan receives $4.4 million in equipment and apparel, and $3.8 million in cash. That’s more than twice as much as the next highest school in the Big Ten, Nebraska, which makes a total of $4 million from Adidas.
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The highest Nike earning school in the Big Ten? Ohio State, who hauls in $3.7 million.
Why does Michigan continue to make so much more money from its apparel provider than anyone else nationally? Well, per the contract, Michigan will always be Adidas’ No. 1 school in terms of payment.
“If during the Term, adidas grants to or contracts with any college or university . that provides for more favorable average annual value . than the current University (of Michigan) average annual value specified in this Agreement . then adidas agrees to make a written offer to grant to the University that same more favorable average annual value on the same terms and conditions that were offered to the other college or university within thirty (30) days of the execution of such other agreement.”