Ohio State, Nike reach $252 million deal to extend sponsorship until 2033

Upset with the way apparel brands have modernized today’s collegiate uniforms? You’re losing that battle—badly. While football season is over and basketball season is almost halfway done, Ohio State and Nike have been busy working together off the field and court on a new extension. The two reached a 15-year agreement worth $252 million that will extend the Buckeyes’ existing sponsorship through 2033, the school announced on Thursday.

Ohio State’s success on the field and court seemed to have earned them a nice pretty penny from Nike, both for student athletes and non-student athletes. With the extension, the Buckeyes’ men’s basketball team will continue to don LeBron James’ apparel, specifically for Ohio State and including shoes, jerseys, and travel suits. All 36 sports and over 1,000 student-athletes will benefit from this extension.

Ohio State president Michael V. Drake is very excited about their extension with such a prestigious company.

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

Although this extension will benefit all Ohio State students, Athletic Director Gene Smith made sure to point out how much of a positive effect it will have on the student-athletes.

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

While the Buckeyes continue to beat their biggest rival, Michigan, on the field, the scarlet and gray also beat them with their sponsorship with The Swish as well. The Wolverines reached an 11-year, $169 million deal at the end of 2015, which is $15.3 million a year, compared to Ohio State’s $16.8 million a year. Comparatively, the University of Texas signed a 15-year, $250 million extension with Nike in October 2015. Unlike Ohio State and Texas, Michigan will transition from an adidas to a Nike school.

Named college football’s most valuable program by the Wall Street Journal, the Bucks extension with Nike is just further proof of the dominance that resides in Columbus. The Buckeyes will receive an $112 million in Nike products and over $103 million in cash during the 15 years, while also receiving royalty income. Many of the perks involved in the extension won’t kick in until the 2018-19 sports season, when the original contract expires. The agreement also includes over $41 million that will be given to the school for scholarships and internships for non-student athletes. In the meantime, Ohio State will get plenty of new gear bearing the Swoosh.