Nike's deal with UM will be worth more than $20 M annually (including about two-thirds cash; rest in apparel etc), per source.
Adidas annually cash payment to UM over its 12-year deal that expires next June was reportedly about $6.5 M, on top of apparel that Adidas gave UM.
So Nike deal obviously more lucrative for UM.
NEW: Swoosh! Hurricanes return to Nike, renewing their 27 year marriage of yesteryear, with historic mega deal worth more than $200 M.
https://t.co/NXFQ3ghixq
All the details and behind the scenes stuff of how it happened.
Scoop: Per sources, UM is returning to Nike for one of the most lucrative deals in college sports history -- a 10-year contract worth more than $200 M. Adidas made a counter-offer but did not match Nike's exact terms. Takes effect with 2027 football season. Will have a lot of behind-the-scene details in a full story momentarily.