Miami Hurricanes’ megadeal with Nike includes NIL component. What to know

The Miami Hurricanes’ new megadeal with Nike — the most lucrative in the apparel company’s history which was formally announced Friday — includes a name, image and likeness component for UM student-athletes.

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As part of the partnership, Miami is joining Nike’s Blue Ribbon Elite program, which the company describes as a “first-of-its-kind initiative that represents a broad portfolio of athletes across disciplines, reimagining the NIL space by providing schools and athletes an unmatched level of collaboration that prioritizes the future of sport and athlete identity.”

“The University of Miami has built a legacy that extends beyond competition and demonstrates how the power of sport can move culture forward,” Ann Miller, Nike’s executive vice president of global sports marketing, said in a release. “We’re proud to welcome Miami back to the Nike family and help Hurricanes athletes define and drive excellence at every step of the way.”

The deal between UM and Nike is a 10-year contract that is worth more than $200 million, or slightly more than $20 million annually, sources told the Miami Herald ahead of the announcement. It’s one of the largest apparel deals in the history of college sports.

About two-thirds of the $20 million-plus annual outlay from Nike to UM will be in cash; the remainder will be in apparel.

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Nike will also provide resources to Miami student-athletes through the Nike Sport Research Lab, which according to the company helps Nike “create future decades of game-changing products and experiences for all athletes.”

The deal officially begins in July 2027, when Miami’s current deal with Adidas ends.

“Few names in sport carry what these two brands carry,” University of Miami president Joe Echevarria said in a press release. “Nike understands what makes the U distinctive. This partnership puts our student-athletes in the best company in sport and positions the Hurricanes for the era in front of us.”

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