Texas agrees to lucrative 15-year deal with Nike

The University of Texas has reached an agreement for Nike to be the Longhorns apparel outfitter for the next 15 years.

The deal, according to the Austin American-Statesman, did not have a public monetary value yet, but it’s expected to be the most lucrative apparel deal in college sports. One source told the paper that the deal would be “higher than Michigan.” Michigan signed a 15-year deal with Nike this summer worth an estimated $169 million. At that point it was the biggest apparel deal in college sports.

Texas had been looking for apparel options this year as its current 15-year Nike deal was set to expire. However, the school cancelled a meeting with Under Armor earlier this month, which signified that it was likely going to remain with Nike, which had been the Longhorns outfitter since 2000.

According to the Austin American-Statesman, Nike did have a first right-of-refusal in its current deal, which meant if Under Armor or any other outfitter had offered Texas, Nike would have had an opportunity to match.

The only thing remaining to make this deal complete is the contract must be forwarded to the UT System Board of Regents for final approval.