Nike is to replace Adidas as the sponsor of the University of Michigan for its sports uniforms. The organization issued a statement saying that Nike was to become the Michigan Wolverines' official athletic footwear, apparel and equipment provider, starting from the beginning of August 2016 and until 2027, but with options to prolong the agreement to 2031. Nike is to supply all of the university's 31 athletic programs with uniforms, footwear, apparel and equipment. The two parties are to work together on innovation in sports technology as well. The Adidas brand's partnership with the University of Michigan from 2007 was among its most coveted U.S. sports deals. Mark King, president of Adidas North America, told the Wall Street Journal that the end of the agreement would free up at least $5 million in its annual marketing budget.

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