- Nike (NYSE:NKE) won't sign a new apparel contract with the University of Texas during its exclusive negotiating window, according to Bloomberg.
- The window expires tomorrow after which major Nike rivals such as Under Armour (NYSE:UA) and Adidas (OTCQX:ADDYY) can step in with their own bids for the UT apparel rights.
- University of Texas sports teams generate a huge amount of interest, although the Longhorns have lost a little bit of leverage by dropping three of their first four football games this season. Still, the new deal is expected to struck at +$15M per year.