Ohio State is forming a new corporate deal with JPMorganChase that will generate almost $17 million annually for the athletic program and include jersey patches for all 36 of the Buckeyes’ teams.
It is thought to be one of the largest corporate partnerships in collegiate sports that isn’t related to clothing. It is anticipated that the annual revenue from the jersey patches will lead the industry and surpass numerous NBA jersey patch sales.
In a statement, Ross Bjork, the athletic director at Ohio State, said:
“JPMorganChase is a global brand with deep roots in Ohio, making them a natural partner that shares our commitment to innovation, excellence and long-term community impact”. “Together, we have built a comprehensive and historic partnership that reflects the strong commercial strength of the Ohio State Athletics identity and the broader college athletics landscape. This relationship creates meaningful opportunities for our student-athletes that support the sustained excellence and competitiveness of our athletic programs, while honoring the tradition and values of Ohio State.”
NIL possibilities for athletes are also part of OSU’s agreement. Division I leaders authorized uniform patches in January as a strategy to raise millions of dollars to support athletic departments searching for new ways to compensate players. Teams may add up to two patches, each no larger than four square inches, to jerseys for regular-season games in addition to the logos currently permitted by the uniform manufacturers.
Additionally, the College Football Playoff has been investigating ways to permit patches for that sport’s postseason.
