Texas reaches 15-year deal to stay with Nike

University of Texas officials have reached a 15-year agreement with Nike in what is expected to be the richest shoe and apparel deal in college sports, the American-Statesman has learned.

Two sources familiar with the negotiations said the talks are complete. However, the contract must be forwarded to the UT System Board of Regents for final approval.

The annual, agreed-upon total is unknown, but one source said it’s “higher than Michigan.” The Wolverines signed a 15-year deal with Nike this summer worth an estimated $169 million. At the time, it was widely hailed as the biggest deal in college sports.

Texas’ deal will likely blow past Michigan’s. The Longhorns have been the No. 1 seller of T-shirts, hats and other merchandise for nine straight years, according to the Collegiate Licensing Company rankings.

Read more: http://www.hookem.com/story/sources-texas-reaches-15-year-deal-to-stay-with-nike/