BleedGopher
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per the Wall Street Journal:
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, including royalty income, according to terms of the contract reviewed by The Wall Street Journal.
The agreement, most of which will take effect with the 2018-2019 season, includes more than $41 million in commitments beyond the Buckeyes’ athletic department to include scholarships and internships for non-athletes at Ohio State.
In the past year, Nike has also signed a 15-year, $250 million renewal with the University of Texas at Austin and reached an 11-year, $169 million deal with the University of Michigan, Ohio State’s rival. Nike takes over the contract with the Wolverines after the school’s current deal with Adidas AG expires this year.
http://www.wsj.com/articles/nike-re...o-extend-sponsorship-at-ohio-state-1452811305
Go Gophers!!
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, including royalty income, according to terms of the contract reviewed by The Wall Street Journal.
The agreement, most of which will take effect with the 2018-2019 season, includes more than $41 million in commitments beyond the Buckeyes’ athletic department to include scholarships and internships for non-athletes at Ohio State.
In the past year, Nike has also signed a 15-year, $250 million renewal with the University of Texas at Austin and reached an 11-year, $169 million deal with the University of Michigan, Ohio State’s rival. Nike takes over the contract with the Wolverines after the school’s current deal with Adidas AG expires this year.
http://www.wsj.com/articles/nike-re...o-extend-sponsorship-at-ohio-state-1452811305
Go Gophers!!