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NIKE HAS ITS EYES ON TEXAS, INKS MAJOR COLLEGIATE DEAL
Published November 17, 1999
Nike has inked a $22M, seven-year equipment and apparel deal with an option for two additional years with the Univ. of TX (UT), according to Erik Spanberg of the SPORTSBUSINESS JOURNAL, who reports that the pact is for $750,000 annually and that the option years would be worth $850,000 each. Under the deal, Nike will provide the UT athletic department with $1.8M in apparel in 2000-01 and $1.6M in apparel the next six years and would supply $1.8M in apparel for the two option years. UT Senior Associate AD Chris Plonsky said that Nike's "willingness to outfit" the school's 20 athletic programs was "pivotal." Reebok's six-year deal with UT worth $900,000 annually expires this year (SBJ, 11/15).