Peloton is entering the college NIL space through its new deal with the University of Michigan that will see co-branded stationary bikes used by Michigan football players on the sidelines of games at the Big House this upcoming season.
Learfield negotiated the deal to name Peloton the Connected Fitness Partner of the University of Michigan Athletics. Co-branded Peloton Bikes will be used in Michigan athletic facilities beyond football, including basketball, hockey, and Olympic Sports teams.
Michigan college athletes will be integrated into Peloton-backed NIL marketing campaigns, which includes a new promotion to give Michigan students reduced-price access to Peloton’s App One tier for fitness classes at $6.99 per month.
Peloton will also sponsor The Maize Rage student cheering section at Michigan men’s and women’s basketball games. Michigan’s online and social athletics content, such as football game recaps, will be sponsored by Peloton, which recalled 2.2 million bikes in May due to a seat defect.
Michigan’s partnership marks Peloton’s first deal in college sports. The Big Ten school projected more than $200 million in revenue for its 2022-23 fiscal year.