Nike Inc. doesn't plan to renew its apparel contract with the University of Texas before its exclusive negotiating window closes on Oct. 1, according to a report from Bloomberg.
Under Armour and Adidas are expected to aggressively pursue a deal with Texas. Nike would still have 15 days to match any contract the school opts to sign.
Nike has held the uniform license since 2000. Previously, it had been with Reebok.
Texas is the richest athletic program in the country and the new contract may wind up being the most lucrative ever. Nike last summer signed a The 15-year, $169 million deal with Michigan that's said to be the richest contract.
