Nike and Ohio State Ink 15-Year Sponsorship Contract
The apparel and sportswear war continues. On January 14, 2016, Ohio State and Nike, Inc. announced their deal to extend Nike’s sponsorship of Ohio’s flagship university. The $252 million deal — $112 million in Nike merchandise and $103 million in cash, including royalty income — will extend into the next 15 years.
The competition for contracts among apparel companies is greater than ever, with more companies entering the big stage in recent years — or at least, the big stage in America. Over the last several months, Adidas announced its partnership contracts with the University of Miami (FL) and Arizona State University. Under Armour, Inc., which continues to grow as a sportswear rival, acquired sponsorship contacts with the University of Wisconsin-Madison and Yale University in 2015.