The University of Miami is entering a 10-year partnership with Nike in a deal worth more than $200 million, or $20 million a year, ending Adidas’ run with the school, according to the Miami Herald.
Miami currently has a 12-year deal in place with Adidas, which expires in June 2027, that pays the university $6.5 million per year (not including apparel and footwear, per the Herald). The Hurricanes reportedly “would have been fine with Adidas matching Nike’s offer,” according to the Herald.
Per the Herald, two-thirds of the payment will come in the form of cash allocation, while the rest of the value comes from the uniforms, footwear, and sideline gear Nike provides to players and staff. The’ increased revenue will reportedly go toward costs of maintaining the athletic department; NIL money; and, potentially, an on-campus football office building.
Miami’s reported move to Nike comes amid a resurgence in Miami’s football program amid the 12-team College Football Playoff era, with the school currently ranked as No. 5 in the AP Top 25 poll. Nike previously had partnered with Miami from 1987 through 2015, when the Hurricanes won four of their five national championships in football.
Miami’s basketball team made a historic run to the Final Four in 2023 and finished its 25/26 season with 26 wins and a second-round exit in the NCAA Tournament.
Image courtesy of the University of Miami
