Nike and Ohio State agree to 15-year, $252 million contract

Ohio State and Nike have reportedly reached a 15-year, $252 million deal to extend the existing sponsorship at the university.

Ohio State and Nike have reportedly reached a 15-year, $252 million deal to extend the existing sponsorship at the university. Ohio State confirmed the deal on Thursday.

“The comprehensive nature of this partnership is a win for all Ohio State students,” said Ohio State president Michael V. Drake. “The expanded commitment by Nike will support access, affordability and excellence for Buckeye students and student-athletes across our campus.”

The Wall Street Journal reported that the university will receive $112 million in product and “at least” $103 million in cash, including royalties.

“Our athletes deserve the best performance wear to compete at the highest levels and get the most out of their experience,” Ohio State athletic director Gene Smith said in a statement. “We’re proud to make Nike products available for our student-athletes.”

Michigan deal with Nike is worth $15.3M in cash & product a year.

Ohio State's new deal, according to report, would be worth $16.8M a year.

— Darren Rovell (@darrenrovell) January 14, 2016

- Xandria James