Report: Longhorns will leap Wolverines as Nike’s apparel king
It was a nice, albeit brief, run as No. 1, Michigan. But it sounds like it might be time to move over, as the Texas Longhorns reportedly will take the throne as Nike’s apparel king.
According to the Austin American-Statesman, the shoe and apparel behemoth 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 at the time was believed to be the richest in college sports. The Longhorns’ total package is expected to blow by that figure, the Statesman reported, although Texas’ annual take is not yet known.
At one point it appeared Texas officials were ready to entertain other bids, which would have allowed new-age giant Under Armour to make a presentation. However, a meeting was canceled earlier this month, signaling that a deal with Nike — which held the contractual right to match any offer — would get done.
Nike likely all along would have continued its alliance with Texas, and for good reason. According to the Collegiate Licensing Co. rankings, Texas has been the No. 1 seller of T-shirts, hats and other merchandise for nine consecutive years.