* Sponsorship deals with universities: Nike pays universities (and sometimes athletic conferences) for the right to be the exclusive or primary apparel provider for their teams. This involves providing uniforms, equipment, and other apparel in exchange for prominent branding and exposure. The revenue Nike generates from the sale of these products is separate from any compensation to individual athletes.
* Sales of licensed merchandise: Nike sells merchandise featuring university logos and team names. These sales generate revenue for Nike, but again, college athletes are not directly compensated for these sales.
* Increased brand value and exposure: The association with college sports enhances Nike's brand image and reputation, which indirectly boosts its overall sales. This is a less easily quantifiable benefit, but a significant one.
In short, Nike's profit from college athletics is indirect and tied to its contracts with universities and the sales of merchandise bearing university logos, *not* through direct payments to the athletes themselves. While some NIL (Name, Image, and Likeness) deals might involve Nike, those deals are separate agreements with individual athletes and not part of the university sponsorship. There's no publicly available breakdown of precisely how much Nike earns from its college athletic sponsorships.