The University of Miami is coming home to Nike. The Hurricanes have agreed to a 10-year contract with the Swoosh worth more than $200 million, ending an 11-year run with Adidas and reuniting the school with the brand that helped define its glory years.
The new deal is worth slightly more than $20 million annually, according to a report from the Miami Herald, with about two-thirds of that annual payment coming in cash and the remainder delivered in apparel. That figure dwarfs Miami's current arrangement with Adidas, a 12-year contract reportedly paying $6.5 million a year that is set to expire in June 2027.
Adidas actually had a contractual right to match Nike's offer by a Tuesday deadline, per the Herald's reporting, and the company reportedly presented a compelling counteroffer. But it did not fully match Nike's terms, clearing the way for Miami to walk. The Herald reports the extra Nike revenue will go toward athletic department costs and NIL allocation, and may also help fund an on-campus football office building.
A Return to the Original Nike School
This is not new territory for Miami. The Hurricanes and Nike had a partnership spanning 27 years, from 1987 through 2015, during which the program became the first university in college sports history to sign an all-sports, head-to-toe apparel agreement with any brand, according to Sports Illustrated. That original 1987 agreement effectively created the modern collegiate sponsorship template that other schools would later copy.
Hurricanes football won four of its five national championships during that original Nike era, per the same account, cementing the swoosh as part of Miami's brand identity during its most dominant football years. Miami switched to Adidas in 2015 after the German brand offered close to $80 million over 12 years, beating out a large bid from Under Armour that same year, the Herald reports. Under the Adidas deal, the school received annual base compensation paid directly to the athletic department, free gear and apparel for all UM teams, and co-financing of marketing campaigns.
Kadre and Echevarria Drove the Negotiations
Per the Herald's reporting, Manny Kadre, who has served on the University of Miami board of trustees since 2004 and now chairs the board, arranged a meeting with Nike CEO Elliott Hill and executive vice president Ann Miller, and negotiated the deal himself. Joe Echevarria signed off on the agreement. Notably, former athletic director Dan Radakovich, who left the Hurricanes in June, had recommended that Miami accept Adidas's extension offer instead — a recommendation the school ultimately did not follow, according to the Herald's account.
Radakovich's departure means Miami struck this megadeal without a permanent athletic director in place. The school is currently searching for his replacement, with three candidates having interviewed with Kadre and Rudy Fernandez, per the Herald. Alison Mincey is also involved in that search, which reportedly includes five serious candidates — some currently working outside college sports, others with backgrounds in professional sports — who will likely interview with Echevarria as finalists are narrowed down.
Adidas Still Has Deep South Florida Roots
The split leaves Adidas with a complicated local footprint. The company became the exclusive apparel provider for all 41 public high schools in Miami-Dade County in August 2025, a five-year contract worth $13.5 million, according to reporting cited by Sports Illustrated. That deal was designed to anchor Adidas's presence in South Florida's talent-rich prep sports pipeline even as its flagship college partner in the region prepares to walk away.
Adidas also had NIL ties to individual Hurricanes stars. Rueben Bain Jr. was described as Adidas's signature Miami athlete last year, and Malachi Toney signed an Adidas NIL deal just two weeks before the Herald's report published. It remains part of the broader picture of Adidas's continued interest in Miami-based talent, even as the school's institutional apparel contract shifts back to Nike.
Why the Timing Makes Sense
Miami's return to Nike arrives as college athletic departments grapple with new financial obligations. Under the House v. NCAA settlement approved in June 2025, Division I athletic departments can now pay up to $20.5 million annually in direct revenue-sharing payments to student-athletes, according to Akerman LLP, with that cap rising to $21.58 million for the 2026-2027 academic year. It marked the first time colleges could directly compensate athletes from institutional revenue streams, and Miami's $20 million-plus annual Nike payout lines up closely with that new payroll pressure.
Miami is far from alone in reshuffling its apparel partnerships this year. Penn State ended its 33-year relationship with Nike on July 1, signing a reported 10-year, $300 million Adidas agreement, according to the Herald. Tennessee also left Nike for Adidas earlier this summer. South Carolina, meanwhile, signed a 10-year, $70 million Nike contract after leaving Under Armour, and Ohio State's existing Nike deal runs 15 years and $252 million through 2033. Oregon also has a lucrative Nike arrangement, per the Herald's reporting.
Nike remains the dominant player in the space. The company holds 27 percent of the global athletic footwear and apparel market compared to Adidas's 13 percent, and generated approximately $46.4 billion in fiscal 2026, with footwear alone accounting for about 65 percent of total sales and roughly $30 billion in revenue, according to the Herald's figures. The Miami and Nike partnership is set to formally renew beginning with the 2027 football season. Michelle Kaufman contributed to the Herald's report.
