University of Texas signs $300 million deal with ESPN

The University of Texas signed a huge 20 years, $300 million deal withESPN's television network. The deal will allow ESPN to broadcast Longhorn sports and other related content.

Don Hale, a spokesman for the university, confirmed the details of the contract. Under this agreement, the University of Texas could potentiallyreceive more money if the broadcast of their content performs above acertain threshold.

ESPN will manage all the production costs and the broadcast studio atthe football stadium. Longhorn programming will air in the fall on the ESPN network.