University of Texas regents on Monday approved a new Longhorns product licensing management agreement in a long-term deal worth an estimated $100 million for the school.
The contract with Collegiate Licensing Co. re-partners Texas with the company that helped the school and Longhorns logo become a licensing juggernaut starting in the late 1990s, and boost its athletic department into one of the wealthiest in the country.
Texas had allowed its previous contract with Collegiate Licensing to expire in 2016 in part to save costs and move some of its licensing efforts in-house. The new deal makes the company the school's exclusive licensing agent when authorizing the Texas name, logos and trademarks on commercial products, ranging on anything from clothing to coffee cups to computer mouse pads.
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The new contract with Collegiate Licensing will run through June 2032.