ANN ARBOR -- Back in May, the three biggest names in athletic apparel wooed Michigan with varying forms of flattery.

Adidas draped a giant banner featuring its three-stripped logo and the block "M" over one side of the company's Portland headquarters. Nike painted a field on its Beaverton, Oregon, campus to match the turf at Michigan Stadium, pairing it with a massive wall reading, "GO BLUE." Under Armour hung a welcoming sign at the entrance of its Baltimore corporate offices.

Those were all well and good. Nice gestures of appreciation.

What mattered most, though, was Michigan's valuation. Displays of amity aside, each company had to present U-M with a mega-deal to replace the eight-year contract worth $7.5 million annually between the Wolverines and Adidas set to expire on July 31, 2016.

Last week it was announced that Nike won out in the bid to be Michigan's official athletic footwear, apparel and equipment provider.

On Wednesday, it was learned exactly why.

According to contract details released by the Michigan athletic department, the university's deal with Nike is worth $169 million over 15 years, making it by far the richest of all apparel deals in collegiate athletics. The contract, which will supply all 31 U-M athletic programs with uniforms, footwear, apparel and equipment, will pay $76.8 million in cash and $80.2 million in apparel.

Running from Aug. 1, 2016 through July 31, 2027, the deal comes with an option for Michigan to sign a four-year extension through 2031. Without the option years, U-M and Nike have agreed to an 11-year, $122.32 million deal, which includes $12 million upfront.

That $12 million payment will be followed by $10.1 million-$10.9 million annually in cash and apparel/equipment from 2016 through 2017

The contract option is for four years and worth $46.68 million.

Over the first 10 years of the deal, the deals will pay $4.82 million per year in cash before rising to $5.32 million the the 11th year and final year. From there, U-M will have the option to sign a four-year extension worth $5.82 million per season.

For apparel and products, Michigan will receive $5.3 million in the first year of the deal. The figure will be lowered to $4.7 million in year two and rise by $100,000 per year until reaching $5.6 million in year 11. The figure will will continue to rise by $100,000 in years 12-15, should U-M opt for the extension.

The deal easily laps Notre Dame's apparel agreement with Under Armour, signed In January 2014, which is reportedly worth over $90 million. Among public universities which make their apparel contracts available for review, U-M easily outdistances the field.

Largest athletic apparel deals among public colleges Michigan (Nike): $10.12 million-$10.92 million

Texas (Nike): $5.56 million-$5.76 million

Florida State (Nike): $4.2 million-$4.5 million

LSU (Nike): $4.1 million-$4.5 million

Louisville (Adidas): $4.06 million-$4.28 million

Kansas (Adidas): $3.8 million-$4.2 million

Ohio State (Nike): $3.6 million-$4.21 million

UCLA (Adidas): $3.54 million-$5.5 million Note: Michigan's sums do not include option years

Michigan's previous deal with Adidas long stood as the largest apparel contract in college sports before Notre Dame's deal.

In it's new deal with Nike, Michigan will also be able to offer three student internships at Nike headquarters.

Additionally, according to U-M, the school and Nike will "will collaborate throughout the agreement on innovation initiatives in sports technology, design and best practices including at least two community events per year that support and celebrate education in health and wellness initiatives."

The deal will ultimately payout more than the set cash and apparel sections of the contract. Terms are included for Nike to pay U-M 15 percent in annual royalties. Those "aggregate royalties," according to the contract, "shall not be less than" $18.37 million over the first 11 years of the contract ($1.7 million per year).

If Michigan exercises the contract extension, those four additional years will pay no less than $6.68 million in total royalties.

While Michigan's upcoming earning in apparel will be the most in collegiate sports, it could have possibly been more. According to ESPN's Darren Rovell, Nike was actually the lowest bidder for the rights to be U'M's official outfitters.

At the same time, the Wolverines' deal dwarfs some of Nike's other recent university contracts.

In February, Nike extended its contract with Florida through 2024, netting the Gators from $3.1 million to 3.5 million per year in Nike products. That deal did not include an annual cash payment, however. Prior to that, Tennessee secured an eight-year contract through 2023 worth nearly $4 million annually in merchandise and cash. The Vols' deal also came with a $2 million signing bonus.

SLIDESHOW: Comparing Michigan's Nike deal to other Big Ten schools

While Nike has not renewed some contracts with some well known collegiate brands recently, such as the Miami Hurricanes, it is still the largest NCAA apparel provider. In 2014-15, all four teams in the inaugural College Football Playoff and men's basketball national champion Duke were all Nike schools.

While U-M's future is now set through at least 2027 with Nike, other major collegiate athletic departments will soon be on the market for lucrative new deals. Texas (Nike), Indiana (Adidas), Wisconsin (Adidas), Michigan State (Nike) and Virginia (Nike) all have apparel deals ending in 2016.

The return of Michigan to Nike marks a reunion of a 13-year relationship from 1994 to 2007.

Back in 1994, the Wolverines entered into a now-modest six-year deal worth $8 million. It was among the first department-wide apparel contracts of its kind.

Michigan will continue to wear Adidas through the 2015-16 academic year before officially returning to Nike in July 2016. The changeover will be complete in August 2016. Fans won't be able to purchase any U-M Nike gear until that time.

Brendan F. Quinn covers University of Michigan basketball and football. Follow him on Twitter for the latest on Wolverines hoops. He can be contacted at bquinn@mlive.com