Listing Agreement Contract With Nike In Michigan
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ANN ARBOR, Mich. -- The University of Michigan has reached an agreement in principle with NIKE to become the Wolverines' official athletic footwear, apparel and equipment provider to 2027, with an option to extend the deal to 2031.
Beginning with the 2017–18 NBA season, Nike Inc. became the uniform and apparel maker for the National Basketball Association (NBA).
In 2016, Michigan signed a 15-year, $174 million contract with Nike and Jordan Brand. The historic deal made the Wolverines the first football team to wear Jumpman apparel and footwear. Since then, nine other schools have followed suit.
Nike retains NBA uniform contract for further 12 years. The brand will continue to design and manufacture NBA, WNBA, and G League uniforms until 2037.
Michigan will continue to wear Adidas through the 2015-16 academic year before transitioning to Nike in July 2016.
In 2015 when Jordan signed Michigan away from Adidas, the Jumpman umbrella entered the wild world of college football by way of a ravenous fanbase rich with history. The returns were immediate. “One thing that jumps out is the whole Michigan deal,” Jordan Brand chairman Larry Miller told Boardroom in 2022.
Why is Michigan football sponsored by Jordan? The Michigan Wolverines Football Team is sponsored by Jordan because the company wanted to enter the college football market and associate with a massive program to make a big splash.
The two sides eventually agreed on a 15-year, $173.8 million deal to make the Jordan Brand the school's exclusive apparel sponsor. The deal was much talked about then as it was the largest apparel deal in college football. It has since been surpassed by the 15-year, $252 million deal Ohio State signed with Nike.
A listing agreement is a contract between a property owner and a real estate broker that authorizes the broker to represent the seller and find a buyer for the property. The three types of real estate listing agreements are open listing, exclusive agency listing, and exclusive right-to-sell listing.
A listing agreement is between the parties that own a property and the agents or brokers who will find a buyer for it. Typically, a real estate listing agreement involves the property owner and a real estate agent. The property owner, or seller, grants the agent the right to market and sell the property.
