OK, look, here's the deal.
Originally, Miami's helmet had nothing on it, or else it was an interlocking UM. Nothing was very memorable.
Throughout the 70s and 80s, numerous attempts to come up with new logos, alma maters, etc. were attempted. For instance, the USBG (Undergraduate Student Body Government) had a contest in which "Fun in the Sun" was selected as the "new alma mater", and freshmen got a floppy plastic 45 RPM record in their Orientation packets with the horrible song on it.
Bill Bodenhamer was one of the artists who developed the modern split-U logo, I used to hear about it all the time, as he was an alum of my fraternity. The logo was supposed to be adapatable for all different sports and uses, as you could put a silhouette player inside the split-U and any number of slogans underneath the split-U. In the days before PDFs, when I worked for the Miami Hurricane school newspaper and the Ibis school yearbook, the Athletic Department would send us sheets of various logos that we could insert into the layout of different stories.
There are lots of stories about who started the "hand" version of The U. There is a UM student who claims he came up with it in 1984 (story in The Miami Hurricane). It might be true, though it certainly was not widespread. I would put this story on the same level as the F$U guy who clams that he invented the "four fingers" think for the 4th quarter back in the 1970s. It may be true, but it certainly wasn't a big deal. Then, Michael Irvin occasionally did a U hand thing where he put his thumbs together but only held up his index fingers, which we interpreted to be something like a combo of "we're number 1" and "the U". Finally, people who are familiar with the cheerleading squad of the 80s/90s know that Bill and Val were the two primary male cheerleaders for the varsity team (they tended to rotate the varsity, JV, and Sunsations to each corner of the stadium each quarter).
Anyhow, there was a lot of internal debate at UM about the student section. At one of the games, we were seen and heard doing an "F You Brent" chant to Musburger, and during the F$U games, when F$U's band began playing the warchant march song ALL THE TIME (instead of during offensive drives, as it was originally created), the student section began turning "the chop" into "flipping the bird". So Connie Nickel (staff person in charge of the cheerleaders) was asked if there was something the cheerleaders and/or band could do whenever F$U started playing the warchant.
The band had been doing "The Imperial March" from Star Wars for a little while. My roommate for the first two years of college was in the band, and they loved it because it was fairly unusual (at the time). Regardless of whoever came up with the U hand thing with the thumbs together and all other fingers extended upward, Bill was the most prominent person to display that hand thing, as the female cheerleaders had pom poms and whatnot. So Bill was doing the U (Val was at some games and not others at that point, as he was in med school), and decades later, he somehow gets the credit. But, yes, it was UM's attempt to get us to NOT do the middle-finger salute during the warchant.
As for SAYING "The U", there are lots of states throughout the country that refer to the flagship university as "The U" and the state college as "State". Since we created the split-U logo, though, referencing Miami as "The U" has increased over time. On 1980s/1990s TV, you frequently saw U Miami (FL) and Miami U (OH) on scoreboards and TV crawls to differentiate UM from Miami University. During Butch's tenure, there was more emphasis put on the logo, and by that time you had begun to see opposing players "disrespecting" an opponent's logo or mascot across the country (Terrell Owens disrespected the Dallas Cowboys star in 2000). Even though players had been referring to "The U" on their own for a while, I remember Ryan Moore saying something in an interview, but it was really the Kellen Winslow "soldier" outburst that really got "The U" to become a memorable phrase nationwide.
If the UM band is doing The Imperial March with no other music being played, I'll do "The U". But if the warchant is being played, I'll do the double middle fingers. ***** Connie Nickel and Bill Tigano.
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