Reports: Nike, Texas Agree on Record Deal

Reports: Nike, Texas Agree on Record Deal

The University of Texas’ Board of Regents approved a new contract between the school and Nike covering 15 years worth $250 million, according to multiple reports. The deal also includes a signature line of apparel featuring former Longhorns basketball player Kevin Durant.

The deal reportedly becomes the biggest in college sports.

In June, Michigan left Adidas for a  15-year, $169 million deal with Nike, which many said made it the largest contract in college sports. Notre Dame’s contract with Under Armour is also believed to be near the top although the university does not provide contract details.

The new Texas agreement includes cash payments, uniforms, footwear, promotional activities and a minimum of $22.5 million for non-athletic university initiatives. It also includes internships for student-athletes. The contract includes royalty payments to Texas for products co-branded with Durant, a former Longhorns All-American who was the national player of the year in the 2006-07 season.

Texas athletic apparel has topped the Collegiate Licensing Company’s rankings for t-shirt, hats and other merchandise sales for the past nine years. Nike and Texas first partnered in 2000.