Nike Inc. has agreed to a new 15-year deal with the University of Texas, according to a report from the Austin American-Statesman.
The source told the newspaper that the deal is larger than Michigan's 15-year, $169 million deal signed in July. Michigan left Adidas for Nike in what was touted as the largest college deal. Terms of the Texas deal weren't available.
Texas reportedly canceled a meeting with Under Armour executives on Oct. 4 in what was seen as a sign that Nike had re-upped. Texas has been with Nike since 2000.