Report: Texas, Nike agree to richest apparel deal in college sports

The University of Texas has agreed to a new 15-year deal with Nike in what's predicted to be the richest shoe and apparel deal in college sports, according to Kirk Bohls and Brian Davis of the Austin American-Statesman.

While the actual dollar amount of the agreement remains unknown, it is reportedly in the $200-million range, according to ESPN. That number easily surpasses the estimated $169 million Nike and Michigan agreed to in the summer.

The contract still requires approval from the UT System Board of Regents.

There were rumblings that the Longhorns, who have been with Nike since 2000, were considering jumping ship to Under Armour. Nike also had a clause in its contract with Texas that allowed it to match an offer from another company, according to the story.

When athletic director Steve Patterson was fired last month, it's believed that ended any chance Texas would move on from Nike, Bohls and Davis noted.