Miami Hurricanes going back to Nike in deal that will exceed $200M, AP source says

The University of Miami and sports apparel company Nike have reportedly reached a landmark agreement, ending the Hurricanes' 10-year partnership with Adidas, according to a report from the Miami Herald.

According to the Herald, the deal is worth over $200 million over 10 years, with two thirds of the payment coming in cash and the remainder in the form of Nike apparel for the Hurricanes' athletic competitions. The agreement is reportedly significantly more lucrative than the current 12-year deal with Adidas, which pays the university $6.5 million per year, excluding apparel and footwear.

While the Hurricanes reportedly would have been content with Adidas matching Nike's offer, the increased revenue from the new deal will likely be used to cover costs associated with maintaining the athletic department, managing NIL money (name, image, and likeness), and potentially funding the construction of an on-campus football office building.

This move comes as Miami's football program has experienced a resurgence in the College Football Playoff era. The partnership with Nike begins in the 2027 college football season, following a decade of success with Adidas from 1987 to 2015, during which the Hurricanes won four of their five national championships in football.