The USC Trojans and Nike announced a ten-year contract extension on Tuesday afternoon. The deal runs through 2036 and will have wide-ranging benefits for USC Athletics, which has worn the Swoosh since the 1990s.But if we have learned anything in modern college sports, it is that it is a zero-sum game. Everything has an equal and opposite reaction. Below is a breakdown of the winners and losers from USC's new Nike contract.Winner: NikeNike gets to outfit a powerhouse athletic program. | USA TODAY Sports via Reuters ConnectNeither part disclosed the financial terms of the agreement, but it is easy to understand why Nike invested heavily in USC Athletics. The athletic program has won 139 NCAA national championships, produced countless iconic athletes, and is supported by countless celebrities in the entertainment capital of the world. Partnering with USC is just good business.Loser: AdidasThe Washington Huskies remain the flagship adidas program on the West Coast. | IMAGN IMAGES via Reuters ConnectLast year, adidas inked Penn State and Tennessee to massive new sponsorships. Those agreements just took effect, but were likely negotiated around the same time Nike worked with USC on its extension. Even if adidas was willing to reach out and sign USC, Nike probably had the right to first refusal or other negotiating advantage in the original contract. So, the Washington Huskies remain the West Coast flagship school for adidas.Winner: USCNBA players will continue to get player-exclusive "USC" colorways. | USA TODAY Sports via Reuters ConnectUSC is also a winner in this deal. Finances aside, they are getting the best apparel, footwear, and equipment Nike has to offer. For example, that includes Nike Strength. USC becomes the first school outfitted with Nike Strength equipment. This will be at the brand new Bloom Football Performance Center. Meanwhile, the youngest generation will always want to wear Nike. Whether it's matching team gear or new Nike LeBron sneakers, athletes want to wear the Swoosh.Loser: UCLA BruinsUCLA's options will be limited in 2029. | IMAGN IMAGES via Reuters ConnectJordan Brand quietly added two years to its partnership with UCLA in December 2025. When UCLA's contract ends in July 2029, it will have less leverage as Nike is already established in the region with USC. The Bruins better hope things work out well Jumpman.Winner: NIL AthletesJazzy Davidson is among Nike's star-studded NIL roster. | IMAGN IMAGES via Reuters ConnectUSC will stay a part of Nike's NIL roster. What's new is that USC is joining Nike's Blue Ribbon Elite program. But USC has already been an incubator for Nike talent. Just the women's basketball team alone has JuJu Watkins, Jazzy Davidson, and Saniyah Hall. Watkins and Davidson's player-exclusive Nike sneakers remain uninterrupted.Loser: Keyshawn JohnsonKeyshawn Johnson has a lifetime adidas contract. | IMAGN IMAGES via Reuters ConnectKeyshawn Johnson is the only NFL player in history with a lifetime adidas deal. Johnson even covered up the Nike Swoosh logos on his cleats in the 1996 Rose Bowl as a nod to his upcoming adidas deal. Of course, Johnson would love to see his Trojans come over to the Three Stripes. But then again, he can't be disappointed with a lifetime contract.Winner: Basketball ProgramStephen Curry wore JuJu Watkins' Nike basketball shoes. | IMAGN IMAGES via Reuters ConnectNot only are the Trojans' basketball teams part of Nike's Mamba Program, but they will also receive even more benefits from this new deal. As part of the new contract, Nike will create custom uniform collections for USC men's and women's basketball.Stay locked into Sports Illustrated's Jerseys On SI for all your uniform news from the sports world and beyond.Add us as a preferred source on GoogleFollow