Univ. of Texas' Deal With Nike Reportedly Includes Kevin Durant Signature Apparel Line

The Univ. of Texas "made history Friday when regents approved a 15-year deal with Nike" totaling nearly $250M that includes a $15M contribution from Thunder F Kevin Durant, whose "kd" brand "could be coming" to school events, according to Chip Brown of HORNS DIGEST. Nike's "up-front payment/signing bonus to Texas upon execution of the agreement" is valued at $20M. The "total complimentary supplied product guarantee" over the 15-year term is $67.95M in retail, plus $1.5M retail "for use at AD discretion." Annual compensation from Nike is "subject to an offset of equal amounts contributed" by Durant, which is valued at $1M per year and maximum $15M over the term of the contract. The deal also includes the "creation of [a] signature" Durant-UT line of performance products, apparel and footwear. Sources said that Under Armour "was prepared to offer" UT $26M per year for 10 years (HORNSDIGEST.com, 10/30).