That's right, as of January 1, 2013 all of Nike sponsored surfers will become sponsored by Hurley. Since Nike owns Hurley, this will just involve some new board decals and some new wetsuits. Now for the confusing part, Nike will be pouring more money into the Hurley brand in attempt to sponsor every surfer on the world tour (or at least 8 of them, and possibly 9 if John John Florence signs a deal). So Nike is basically using Hurley as a big front to pump more cash than ever into the sport.
This also means that Nike will no longer sponsor any contests, which we reported earlier when they pulled out of the 2013 US Open, but now the Nike Lowers Pro will need a new sponsor as well. No confirmation if Hurley will step in to sponsor any contests yet.