The teams are agreeable to the move, but it will have to be approved by the NCAA. Talks among both schools, ESPN, Florida Citrus Sports and the College Football 150th Anniversary Organization are ongoing, but a release said a decision is expected shortly.
"This is a unique and rare opportunity that would showcase college football, both storied programs, and the state of Florida," a joint statement released Thursday said.
The Camping World Kickoff game, which for now is scheduled for Aug. 31, would remain in Orlando, Florida, and it would serve as a marquee prime-time kickoff to what will be celebrated as the 150th season of college football.
Florida and Miami would also have to open their training camps early, which would require NCAA approval.
Arizona is already slated to face host Hawaii on Aug. 24, and there is also a Football Championship Subdivision game scheduled that day.
The 150th anniversary of college football is set to be recognized all around the college game this year -- at the FBS and FCS levels, as well as in NCAA Divisions II and III and the NAIA. It's widely believed that the first game was Nov. 6, 1869, when Princeton played Rutgers.
The Gators and the Hurricanes first met in 1938. Miami leads the all-time series 29-26.
Information from The Associated Press was used in this report.