UM pens 10-year apparel deal with Nike

• UM first signed with Nike in 1987, making it the first school to sign with a retailer that would provide apparel for all sports, per the Palm Beach Post.

Between the lines: After that initial 28-year agreement with Nike, the university in 2015 signed a 12-year deal with Adidas for more than $90 million, according to ESPN.

• The Adidas contract is set to expire in June.

Follow the money: UM will receive slightly more than $13 million annually from Nike, or two-thirds of the annual outlay, while the rest will be in apparel, the Miami Herald reported.

• Adidas paid the school $6.5 million annually, though that didn't include apparel and footwear, per the outlet.

Zoom in: The university is expected to use the extra cash for athletic department costs and name, image and likeness (NIL) allocations, the Herald reported. It could also use it for a potential on-campus football office building.

Yes, but: Adidas will still be repping some of UM's players after signing a NIL deal with receiver Malachi Toney, who can wear the brand's apparel on campus but not during games.

• Moreover, last year Adidas signed a five-year, $13.5 million deal with Miami-Dade County Public Schools to be the exclusive apparel provider for all schools.