Ohio State is the most valuable program in all of college football, so it only makes sense that Nike would want to lock them up for the long haul.
According to the Wall Street Journal — the Buckeyes and Nike have agreed to a monster 15-year, $252 million deal.
Nike Inc. has agreed to a $252 million deal with Ohio State University to extend its existing sponsorship by 15 years, escalating an arms race among sportswear makers and top sports schools.
Ohio State will receive $112 million in product from Nike and at least $103 million in cash, not including royalty income, according to terms of the contract reviewed by The Wall Street Journal.
According ot Sara German — Ohio State waited for Nike negotiations w/ Texas and Michigan to wrap so they could “propose a more favorable deal.”
One funny sticking point to the deal – it had to be bigger than Michigan’s new deal with Nike. Ohio State will now get $16.8 million per year, while Michigan’s is $15.3 million per year.