In November, the University of Texas signed a $230 million apparel, uniform and footwear contract with Nike, the most lucrative such deal in history. Well, records are made to be broken, says fellow football power Ohio State University.
Late Thursday, the Wall Street Journal reported that Ohio State has agreed to terms with Nike on a 15-year, $252 million contract, the new gold standard in the ever-more-competitive landscape of college uniform deals. The agreement dictates that Ohio State will receive $112 million worth of uniforms, footwear, apparel and other gear, as well as $103 million in cash over the life of the contract, which begins when the current deal ends in 2018. Nike will pay an additional $41 million to Ohio State that will be used outside the school’s athletic department.
According to the WSJ report, Ohio State and athletic director Gene Smith waited for Nike to complete deals with Texas and archrival University of Michigan, who signed for 15 years and $169 million in July, allowing OSU to seek more favorable terms.