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Article: Buckeyes worth $26.1 million to Nike: Seven-year deal gives company exclusive rights.
- Article from:
- The Columbus Dispatch (Columbus, OH)
- Article date:
- September 14, 2007
CopyrightCOPYRIGHT 2007 The Columbus Dispatch. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ken Gordon
Sep. 14--Ohio State nearly doubled the value of its athletic-apparel contract when it signed a new deal with Nike this summer.
The school's last contract, signed with Nike in 2001, was worth $1.9 million a year ($11.4 million for six years).
The new contract pays Ohio State more than $3.7 million a year -- at least $26.1 million over seven years. It went into effect Aug. 1 and was announced this week.
The reason for the big jump is the new deal stipulates that Nike has exclusivity -- or exclusive rights to sell OSU athletic apparel or footwear.
The base worth of providing Ohio State with gear is $16.4 ...