Ole Miss reportedly makes major decision after nearly 30 years with Nike

Ole Miss is the third major program Adidas has pulled in this year, after adding Penn State and Tennessee earlier in 2026. Nike's side of the ledger holds Miami and South Carolina, which are leaving Under Armour. Nike also kept Duke, whose contract was set to expire in July 2027. Duke had planned a two-day trip to Adidas' North American headquarters in Portland, but the visit never got off the ground, John Canzano reported. 

For more than a decade, both companies insisted they were not targeting each other's schools. This year's moves say otherwise. Programs are changing hands in both directions, and the brands are bidding against each other for the same tier of school.

How much will Adidas pay Ole Miss?

The reporting so far does not include a figure, which leaves the deal's value as the biggest unknown. The Miami contracts are the closest benchmark from this same cycle. Miami's Adidas deal paid about $6.5 million in annual cash plus apparel, according to Bleacher Report's summary of the Miami Herald reporting. Nike's replacement averages more than $20 million a year across its 10 years.

That gap shows how far the price of a top college apparel deal has climbed since 2015. It also explains why a counteroffer that fell short in Miami could still land Adidas an SEC program on the other side of the trade.

Miami's Adidas contract was the longest collegiate deal the company had ever signed when it was struck, and it expires next June. Ole Miss' Nike contract runs out the same month.