Miami's Nike Contract LEAKED — And The Details Are Insane
Miami's contract with Nike was never supposed to be public. Miami is a private school, and the deal has a non-disclosure clause. It leaked anyway. John Canzano obtained the term sheet, and in this video I go through everything that's been published, line by line: The real number: 10 years, $198.5 million guaranteed, with $130 million on the cash side and $68.5 million in product. The clause: Canzano reports the contract guarantees Miami's deal stays the best in the ACC and the most lucrative in Florida for ten years. If Florida State gets more, Nike has to raise Miami's. The cash: how the $80 million in base pay can be delivered, and what Blue Ribbon Elite has to do with it. The fine print: a $16 million advance, $15 million Nike has to spend or pay, and a 15% royalty with a $2.5 million yearly floor. Why Nike did it: the stock, the S&P 100, losing Penn State, Tennessee and Ole Miss, and why people in the industry say Nike had to overpay. The ripple effect: why Ohio State, Alabama, Texas, LSU, Florida State and Georgia all want the same terms. The bonus sheet: $3 million for a national title, why the bonuses don't stack, the two bonuses that were out of date ten weeks after signing, and the typo. The perks: signature footwear, NikeSKIMS, Nike facilities, internships, and The Opening coming to Coral Gables. Sources: the Miami–Nike term sheet as published by John Canzano (Bald Faced Truth), the Miami Herald, On3, ESPN, Eleven Warriors, Sportico, Yahoo Sports, Front Office Sports and Nike's own announcement. Canzano discloses that his shows are sponsored by Adidas. What's the wildest detail in this contract? Let me know in the comments. #MiamiHurricanes #Nike #CanesPulse #CollegeFootball #TheU The Echevarria Law Firm — proud title sponsor of Canes Pulse. Free consultation → calleche.com Instagram & TikTok: @echevarrialegal The Echevarria Law Firm — Check the scoreboard. Paper Boy Co - Stickers, Banners, Posters, Wall Vinyl, and more. paperboy has you covered. https://www.instagram.com/paper.boy.co?utm_source=ig_web_button_share_sheet&igsh=ZDNlZDc0MzIxNw== Ariz Law PA: Coral Gables Law Firm – Estate Planning, Business Law & Real Estate Attorneys Specializing in Corporate Law, Probate, Wills & Trusts Protect the People and Assets You Value Most. Plan Your Future arizlawpa.com
