Report: Texas will leapfrog Michigan as Nike’s apparel king
It was a nice, albeit brief, run Michigan. But move over, the Texas Longhorns are about to take the throne as Nike's apparel king.
According to the Austin American-Statesman, the shoe and apparel giant and University of Texas officials have reached a 15-year agreement on what is believed to be the richest deal in college athletics. Last summer, Nike signed a 15-year deal with the Wolverines for an estimated $169 million, which was believed then to be the most lucrative in college sports.
The Longhorns' deal is expected to blow by that figure, the Statesman reported, although Texas' annual take is not yet known.
At one point it appeared Texas was ready to open up the bidding and allow Under Armour a chance to make an official presentation. However, a meeting with the new-age apparel giant was cancelled earlier this month, signaling a deal with Nike, which held a contractual right to match any offer, would get done.
Nike likely would have continued its alliance with Texas, and for good reason. According to the Collegiate Licensing Company rankings, Texas has been the No. 1 seller of T-shirts, hats and other merchandise for nine consecutive years.