Michigan's $169 million Nike contract the richest in college sports

The University of Michigan's partnership with Nike is making history.

The apparel company's deal with the Wolverines to supply all 31 of Michigan's athletics programs with uniforms, footwear, apparel, and equipment is worth $169 million over 11 years, according to contract details released by the university on Wednesday.

Nike will be the provider through 2027, with the deal set to kick in on Aug. 1, 2016. The contract gives Michigan the option to extend the deal until 2031. The men's and women's basketball teams will also use Jordan's Jumpman shoes and apparel.

The agreement, which includes $12 million upfront, $76.8 million in annual cash, and $80.2 million in apparel, is much larger than the Under Armour deal Notre Dame signed, which MLive reported is worth more than $90 million.

The Wolverines' contract, which MLive claims will average $15.3 million annually, dwarfs other publicly-disclosed athletic apparel deals with public universities. Texas's contract with Nike is the next largest at $5.56-5.76 million per year, and Florida State's Nike deal is third at $4.2-4.5 million.

Michigan likely could have made more than the current figures in their apparel deal, with ESPN's Darren Rovell reporting that Nike was actually the lowest bidder in the battle to become the Wolverines' official outfitter.