adidas reached a eight-year deal with the University of Michigan to provide footwear and apparel to the school's sports teams in a deal valued at $7.5 million annually, replacing the current Nike, Inc. deal. adidas will begin supplying the Wolverines' 25 sports teams during the 2008-09 academic year. adidas will pay Michigan $3.8 million in cash annually, compared to the $1.2 million the university is currently receiving from Nike, and $2.2 million in products to outfit the university's teams, according to the Detroit News.
