The University of Texas and ESPN have come to an agreement on a 20-year deal to create the Longhorn Network, which will primarily air school sporting events.

The network is scheduled to launch this September. In addition to live airings of one football game and a minimum of eight men's basketball game per season, there will also be coverage of women's basketball and Olympic sports.

"This is an extremely exciting new venture for our university," school president William Powers Jr. said in a statement. "With our partners, we are now able to increase the exposure of our outstanding athletics programs and our first-class academic and cultural communities. This agreement provides significant new resources to enhance faculty and academic support."

ESPN is planning an on-campus studio at the school and the creation of a website that will "aspire to broadly aggregate content from around the state. It will provide fans, students and parents with access to extensive Texas high school sports, including football, basketball and more, through this centralized home."

According to the Austin American-Statesman, the deal is worth $300 million. Texas would receive $247.5 million of the guarantee by ESPN with the rest going to IMG College, a company that provides marketing and licensing services for the university.

The school could also receive more money based on the amount of profit from the network, which is set to begin airing this fall. The revenue is in addition to the expected $14 to $15 million Texas is expected to receive from the Big 12.

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