Nike Inc. NKE -1.62 % 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.
http://www.wsj.com/articles/nike-re...o-extend-sponsorship-at-ohio-state-1452811305
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.
http://www.wsj.com/articles/nike-re...o-extend-sponsorship-at-ohio-state-1452811305
