The University of Miami will announce a switch to Adidas apparel later this week, Matt Porter of the Palm Beach Post reports.
The school has been with Nike for 27 years.
Miami athletic director Blake James told Porter a decision will be announced on Thursday after the school received bids from Adidas and Under Armour. The deal will cover every sport once the Nike agreement expires on Aug. 31.
Porter reports the contract is more lucrative than the previous Nike deal and is similar to Arizona State's eight-year, $33 million contract with Adidas announced last month.
Miami became the first school to be outfitted exclusively by one brand when it signed a deal with Nike in 1987.
Notre Dame has the most valuable apparel contract in college sports. Athletic director Jack Swarbick said the 10-year deal with Under Armour will be worth more than $90 million. The Portland Business Journal reports Michigan is No. 2, pulling in $8.2 million annually from Adidas.
On the football field, the Hurricanes finished 2014 with a 6-7 record after losing to South Carolina in the Independence Bowl last month. The men's basketball team is 10-4 after losing to No. 3 Virginia in its conference opener on Saturday.
- Paul Palladino