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Texas and Nike Agree to 15-year Deal

By John Burns, Associate Editor
October 22, 2015

1280px-Texas_Longhorn_logo.svg

The University of Texas and Nike, Beaverton, Ore., have agreed to a 15-year licensing and apparel deal forth around $200 million, according to The Associated Press.

The school’s regents must still approve the agreement, though the lucrative deal is expected to go through.

Recently, the Michigan Wolverines signed a 15-year deal with Nike worth an estimated $169 million, which was considered the largest deal in college athletics; the Texas deal will easily surpass that.

Texas has been the No. 1 seller of T-shirts, hats and other merchandise for nine years in a row, according to the Collegiate Licensing Company rankings.

It was thought that Under Armour may pull Texas away from Nike, whom it has had a contract with since 2000. But Nike’s original contract boasted a right of first refusal, meaning it could match any contract another apparel company pushed forward.

For more information, visit nike.com. — J.B.