Nike recently inked new big-money sponsorship deals with the University of Texas (15 years, $250 million) and the University of Michigan (11 years, $169 million), but don’t worry Buckeye fans, they didn’t forget about The Ohio State University.
According to the Wall Street Journal, Ohio State will receive $112 million in product from Nike and at least $103 million in cash, including royalty income, as well as more than $41 million in commitments beyond the Buckeyes’ athletic department to include scholarships and internships for non-athletes at Ohio State.
In total, Ohio State will be compensated to the tune of $252 million over 15 years.
That’s a whole lot of jerseys and books.
By re-upping with the Buckeyes, Nike clearly is recognizing the growing competition from adidas, Under Armour and the like. Therefore they’re preemptively locking up their biggest programs and athletes (see Lebron James’ lifetime deal) before they even can consider the competition.
*Featured Photo (above) credit to USA TODAY Sports