Univ. of Michigan interim AD Jim Hackett yesterday confirmed that the school's 10-year agreement with Nike "will be the largest in the nation," according to Mark Snyder of the DETROIT FREE PRESS. Though the largest reported deal is Notre Dame's 10-year, $90M agreement with Under Armour, Hackett "did not want to announce the specifics of the term sheet the parties signed officially this week." Those "will come next week in a more formal rollout and he insisted the bottom line was not the ultimate goal." Hackett said that all three proposals from Nike, UA and current provider adidas "would have given U-M the most lucrative deal in college sports." He added, "They were close to each other." UM was previously making about $8.2M on its adidas deal, "which runs through" the '15-16 academic year. The factors for UM execs "were the brand presence of Nike, the overwhelming endorsement of current and former athletes and the technology gains [Hackett] saw from Nike about the future, thinking about this as a 15-year decision" (DETROIT FREE PRESS, 7/8). In Detroit, Angelique Chengelis reports Hackett, before making the decision, "also queried fellow athletic directors because as a former CEO of Steelcase, negotiating an apparel contract was new territory for him." Hackett said, "One of the very notable athletic directors in the country said, 'I just want to set your mind in the right context -- this is one of the most valuable brands,' and he paused, 'in sports,' And I waited, and he said, 'I'm talking about auto racing, golf, baseball, NFL, NBA -- the Michigan brand, Jim, is one of the most valuable assets in sports'" (DETROIT NEWS, 7/8).
HOOSIERS' DADDY: In Indianapolis, Zach Osterman reports Indiana Univ., whose apparel contract with adidas expires next year, is "exploring its options." IU Associate AD/Strategic Communications & Fan Experience Jeremy Gray: "This is something that we've been preparing for and working through for a long time. ... That's not to say we're not happy with Adidas. We've been happy with Adidas. But we took this opportunity to feel things out." IU originally signed with adidas in '04 and in '08 signed an extension, which "will pay" IU $21M over its eight-year lifespan. IU's next contract "will need to be negotiated well before the current one expires" (INDIANAPOLIS STAR, 7/8).
