Nike could lose Texas Longhorns to Adidas or Under Armour

Slowly but surely, Adidas and Under Armour have been picking up some big names in college athletics, and the extremely lucrative athletic program at the University of Texas could be the latest school for one of those two companies to add to their clientele.

Fortune Magazine is reporting that Nike is probably going to have a pretty big fight on their hands to keep the Texas Longhorns in their fold. From Fortune’s report:

Nike currently pays Texas for the right to display the company’s signature swoosh on the Longhorns’ uniforms, shoes and merchandise, but the athletic apparel giant reportedly will not renew its current contract (an extension of a seven-year, $17 million pact between Nike and the school from 2000) before a deadline this week, according to Bloomberg, which cites anonymous sources.
As Bloomberg notes, rival apparel companies like Under Armour and Adidas are likely to enter the bidding for the lucrative Texas contract — which could be worth more than $15 million per year — once it comes up for grabs, which means Nike will face some fierce competition if it wants to keep doing business with the school.

Considering how deep the pockets of Adidas and Under Armour have gotten, this is definitely going to be one heck of a financial battle. However, Nike’s shown that they’re willing to shell out for brands they feel are worth it (see: Michigan), and considering the fact that the University of Texas is home to the most lucrative athletic program in college sports, Nike will probably be up for the fight of keeping Texas, even if they aren’t willing to re-sign in time for the October 1st deadline.

So, what do you guys think? Will/should Texas stay with Nike? Or do you think the’d benefit from moving to Adidas or Under Armour?