Nine days after news broke that the Texas Longhorns would indeed re-sign with Nike for the school's shoe/apparel contract, the Board of Regents held a special called meeting on Friday and unanimously approved the 15-year, $250 million contract.
The record-setting deal proposed by president Greg Fenves was for $50 million more than previously assumed, surpassing the contract the Michigan Wolverines received from Nike this summer by $81 million, allaying concerns that the Longhorns left money on the table by declining to hear offers from Under Armour and adidas.
Keeping Texas was a priority for Nike because the Longhorns have led the nation in merchandise sales for the last nine years.