Title/Alt Text The Texas Longhorns will be sticking with the swoosh.

Texas officials have reached a 15-year apparel deal with Nike that will be the richest in college sports, a source close to the situation told Horns247. The deal was first reported by the the Austin American-Statesman.

The negotiations for the contract are complete, and the deal only needs approval from the UT System Board of Regents. The contract should come to the Board of Regents for a vote next week, a source close to the situation said.

Currently, the biggest apparel contract in college athletics is a 15-year agreement between Michigan and Nike for an estimated total of $169 million. One source told the Statesman that the deal is "higher than Michigan," which would make Texas the new standard for apparel contracts in college sports.

This is not a huge surprise. Texas' athletic department is the richest in college sports and the Longhorns have been the No. 1 seller of T-shirts, hats and other merchandise for nine straight years, according to Collegiate Licensing Company rankings.

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Nike, who's been partnered with Texas since 2000 when the Longhorns made the switch from Reebok, had exclusive early negotiating rights with Texas for the apparel contract. A deal did not come through during that window in September, and it was expected Under Armour and adidas would have the opportunity to pitch Texas. However, Texas canceled a meeting with Under Armour earlier this month and later decided to stick with Nike.

Had another school pitched an offer, Nike also had the right of first refusal built into its previous contract, meaning Nike could have matched any number offered by another brand.