Under Armour is somewhat bigger than Adidas in the U.S., but it's pretty close. World-wide, Adidas is much bigger than Under Armour from a size/money perspective. If Adidas "wants to", it can easily outbid Under Armour. I'm not sure though that Adidas cares as much about the U.S. collegiate market, so may just pass on upping the ante. They haven't really done much to show they want to keep the business. Pretty bland ideas from them recently.
Nike is of course the 800 lb gorilla and will take the business if it wants it. Problem with Nike in the past has been the overseas manufacturing issues, with accusations of child labor and slave-like pay. If I remember right, UW bailed from Nike a while back because of it. I'm sure they'll do due diligence on that again.
I'd be fine with either one over Adidas.
