Univ. of Texas officials have "reached a 15-year agreement" to stick with Nike in "what is expected to be the richest shoe and apparel deal in college sports," according to Bohls & Davis of the AUSTIN AMERICAN-STATESMAN. A source said that the contract’s total value is "expected to approach" $200M, but it would "certainly be 'higher than Michigan.'" UM "signed a 15-year deal with Nike this summer" worth an estimated $169M. Bohls & Davis wrote UT's deal will "likely blow past Michigan's." CLC data shows that UT has been "the No. 1 seller of T-shirts, hats and other merchandise for nine straight years." UT on Oct. 4 "abruptly cancelled a scheduled meeting" with Under Armour execs. Nike had a "contractual right of first refusal clause in its current deal" with UT. It was believed UT officials "wanted to stick with Nike after the abrupt firing" of men's AD Steve Patterson (STATESMAN.com, 10/21). In Dallas, Chuck Carlton cites a source as saying that the deal will be "worth slightly less" than $200M, but "more than" the Michigan deal. The deal will average about $13M annually, compared to the $3.2M the school "will receive" from Nike this year. At the same time, industry speculation "put a possible Texas deal as high" as $15M annually (DALLAS MORNING NEWS, 10/22). The AP's Jim Vertuno wrote UT's new deal with Nike "suggests that the Texas name and its signature burnt orange school color remain a powerful financial force despite recent struggles in football, its highest-profile sport" (AP, 10/21).
