It took a circuitous route to get there, but Texas and Nike have reached a precedent-setting extension of their apparel contract.
But there is much more to the new extension that Nike received from Texas on the apparel deal than just dollar signs. There are several long-term benefits that enhance the package, a couple of which are unique to the Nike brand. The fact that the process was sometimes fractious and public made it more interesting, and probably helped ease Steve Patterson out the door as UT Athletics Director.
Texas and Nike have been partners since 2000, and that partnership allowed Nike an exclusive window of negotiation for a 3rd extension of their agreement.