Michigan Players Gifted Iced-Out Logo Chains at NCAA Tournament

The Michigan Wolverines basketball team was already winning before cutting down the nets -- TMZ Sports has learned each player was surprised with iced-out pendants and chains before they won the NCAA Tournament.

The U-M ballers were gifted the custom bling designed by GLD right before they beat the UConn Huskies 69-63 in the title game at Lucas Oil Stadium in Indianapolis on Monday.

We're told each player received two different sizes of an 18K yellow gold piece, carefully crafted and detailed with blue and yellow hand-set stones to represent the University of Michigan Wolverines logo ... and as can be seen in the videos, the team, including Elliot Cadeau, was clearly loving them.

"The one-of-a-kind pendants were designed to commemorate the team’s title run," GLD told us, "featuring intricate detailing inspired by Michigan’s iconic branding."

We're told the larger gold-plated U-M logo measures 48mm wide by 58mm tall and weighs 65 grams, while the smaller version is 25 grams.

Obviously, more honors will follow -- including championship rings and trophies -- after Michigan's NCAA Finals victory, which secured the program its second national championship in nearly four decades.

The win marks a major milestone for Michigan and sparked a wave of celebrations across Ann Arbor, where fans flooded the streets, blasting fireworks and setting 40 fires in the city.