Breaking down Michigan's new contract with Nike

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Michigan's 11-year contract with Nike has been known for nearly a year now but, thanks to MLiveand the Detroit Free Press, details of the deal have just now become public.

The particulars:

- Michigan officially switches from stripes to swooshes on August 1. The contract runs through 2027, but could last through 2031 should the Wolverines choose to extend the contract.

- Because of that extension period, the total value to Michigan is $173.8 million, a bit higher than the $169 million originally reported.

- Baked into that $173.8 million is $85 million in products and $88.8 million in cash. A $12 million signing bonus is included in that $88.8 million sum.

- Michigan will receive 15 percent royalties on non-footwear apparel and five percent in footwear. So that $60 dri-fit Michigan Fan buys at the pro shop will send nine bucks back to the athletics department. Nike has guaranteed Michigan no less than $1.67 million in royalties per year.

- Nike will pay Michigan $10,000 for a Big Ten East Division championship, $20,000 for a Big Ten championship, $25,000 for reaching the College Football Playoff, $50,000 for winning a CFP semifinal and $100,000 for a national championship. A bonus structure with smaller payouts exists for men's and women's basketball as well.

- Michigan will supply Nike with 10 tickets to each football game, 12 tickets to a Big Ten title game and 20 tickets to a bowl game. The Swoosh will also receive 50 tickets to one mutually agreed upon game and a suite at Michigan Stadium.

- Should Michigan receive a post-season ban, the contract automatically extends for the length of the banishment. Nike has the right to terminate the contract should the punishment exceed one year.

- Football players are prevented from spatting over the swoosh on their Nike cleats.

- Jim Harbaugh, along with his basketball counterparts, is required to make two appearances on Nike's behalf each year.

- Nike and Michigan will collaborate on two "community events" each year. Nike will also hold three internships at its Portland-area headquarters each summer.

- Instead of reverting back to the standard-issue swoosh as worn during the Charles Woodson years...

Michigan Nike

... Michigan will become the first team to wear the Jordan Brand "Jumpman" logo on a football uniform.

UNC swoosh

Michigan's contract was the largest on record at the time of the agreement, but has since been surpassed by Texas (15 years, $200 million) and Ohio State (15 years, $252 million). UCLA is expected to set the new standard when it steps to the negotiating table later this year.