Univ. Of Texas Officially Approves 12-Year, $96M Deal With CLC
Univ. of Texas regents officially approved a new $96M contract with Collegiate Licensing Co. that "runs through June 2032," according to Brian Davis of the AUSTIN AMERICAN-STATESMAN. CLC started managing UT's brand in the late '90s and "helped the Horns become the nation's No. 1-selling logo." Former UT AD Steve Patterson in March '15 said that the school was "turning away" from Learfield IMG College-owned CLC and brought operations in-house. UT football took in $32M in royalties, licensing and sponsorships during the '17-18 athletic year. Overall, UT athletics generated $47.2M during that year (AUSTIN AMERICAN-STATESMAN, 12/10). SPORTS BUSINESS JOURNAL's Michael Smith notes Patterson in '15 believed the athletic department could save as much as $1M a year by "managing its own licensing rights." UT, now under new administration with second-year AD Chris Del Conte, "decided to return to more of a traditional licensing agreement with CLC." The school's remake of their licensing business "could extend beyond the merchandise." UT is in the "final year of their retail agreement with Fanatics for online and in-venue sales." An RFP for those rights "will go out in the coming months" (SPORTS BUSINESS JOURNAL, 12/9 issue).