Texas A&M University plans to buy Texas Wesleyan University's law school in Fort Worth, officials with both institutions announced today.
The agreement, which needs state approval, would give North Texas its first public law school in 2013 -- a year before the University of North Texas intends to open such a school in downtown Dallas.
Texas A&M plans to pay Texas Wesleyan $25 million for the law school program -- $20 million up front and the other $5 million after five years. Texas Wesleyan would keep the law school's buildings in Fort Worth and lease them to A&M for about $2.5 million a year, officials said.
Trustees at Texas Wesleyan, a private liberal arts school founded by the United Methodist Church, approved the deal Monday night. A&M regents are expected to sign off when they meet Friday. The Texas Higher Education Coordinating Board, which oversees the state's universities, must also OK the agreement.