Miami Hurricanes apparel deal estimated as nation’s ninth largest

Forbes released a report today on the nation’s 20 largest apparel deals. The Miami Hurricanes apparel deal is estimated as the nation’s ninth largest.

The Miami Hurricanes Athletic Department apparel deal with Adidas is reportedly estimated at $6.55 million per year according to the Palm Beach Post in 2015. That number puts them ninth in the country according to the report by Forbes’ Daniel Kleinman. As a private school, Miami does not have to release financial statements.

The Hurricanes deal with Adidas puts Miami third among ACC schools in apparel deals. Louisville is second and Notre Dame fifth. North Carolina State was 15th in the rankings and Clemson 18th. The Wolfpack’s deal is for 3.65 million per school year. The Tigers is for 3.2 million per year.

The Cardinals are also with Adidas. Their deal began in 2010 and runs through 2028. According to Kleinman, Louisville receives an Average Annual Value of $10.96 million, an Annual Cash payout of $7.9 million and an Average Annual Product Allotment of $3.06 million.

Like Miami, Notre Dame does not have to release terms of their deal with Under Armour because they are a private school. ESPN’s Darren Rovell reported in 2014 that the Fighting Irish’s deal with the Baltimore based company was ten years for $90 million dollars. Forbes reported Notre Dame’s deal as $7.5 million per year.

Not surprisingly Miami and Notre Dame are the only private schools in the Forbes top 20 list. All of the schools on the list except for Cincinnati who is 20th are members of a Power Five Conference. There are only 12 private schools among the 61 teams in the Power Five conferences. Six of those are in the ACC.

Having the nation’s ninth largest apparel deal is a testament to the Miami Hurricanes brand name. It is also impressive that the Miami Athletic Department was able to negotiate that with Adidas.

The importance of the apparel deals at a university cannot be understated. Former Miami basketball guard Lonnie Walker signed with Adidas after turning pro following last season. Athletes also have loyalties to apparel companies before they sign their letters of intent.

AAU programs are supplied by the various apparel companies. Athletes (especially in basketball) often chose to attend a college based on the apparel that is used by the athletic departments.

It’s good the Hurricanes got locked in when they did. There is not much left for universities seeking new deals. According to Kleinman “It’s been a soft market for colleges looking for a lucrative apparel deal.”