RunInRed 19,637 Posted January 15, 2016 Share Posted January 15, 2016 Ohio State is on top again. Not on the football field, but in the bank.The school announced on Wednesday that it extended its deal with Nike for another 15 years. The Wall Street Journal reported the deal was worth $252 million, which would make it the most valuable deal in college sports on a per annum basis and in total size. The Journal reported the breakdown includes $112 million in product and at least $103 million in cash. Nike signed a 15-year deal with Texas worth $250 million in November and an 11-year deal, with an option for four more years, at a price of $169 million with the University of Michigan in July. Neither Nike nor Ohio State would confirm the reported numbers, but the school's athletic director said it was in fact the largest deal. "We were deserving in this deal to be No. 1 in the country," athletic director Gene Smith told the Cleveland Plain Dealer. "There are a number of criteria in that partnership where we demonstrated that we performed extremely well, and so we feel that's where we should be." As Ohio State has enjoyed success on the football field, so, too, has the amount of gear the school has sold. In 2002, Ohio State generated a reported $5 million in merchandise royalties. That number was $17 million last year. Nike has made a concerted effort to lock up its premiere schools by signing them to longer contracts. It now has Ohio State through 2033, Texas through 2031 and Michigan through 2027 with an option to be extended through 2031. http://espn.go.com/college-football/story/_/id/14572806/ohio-state-announces-15-year-deal-extension-nike Reference Point: Auburn signed a $78.1m deal over 9 years with Under Armour late last year. Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/ Share on other sites More sharing options...
WDE_OxPx_2010 5,549 Posted January 15, 2016 Share Posted January 15, 2016 Jaw dropping Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420342 Share on other sites More sharing options...
aujeff11 6,243 Posted January 15, 2016 Share Posted January 15, 2016 Unreal Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420345 Share on other sites More sharing options...
AU64 10,122 Posted January 15, 2016 Share Posted January 15, 2016 Every time you buy a nike product, part of the price is going to tOSU I guess. Would be interesting to see the breakdown on pricing for a pair of Nike shoes....materials, labor, profit, license fees, advertising (which is probably where this money is classified), etc. I bet the first two items are only a minor part of the total price. Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420348 Share on other sites More sharing options...
EagleReedle 17 Posted January 15, 2016 Share Posted January 15, 2016 So will Ohio St now become the Oregon of the Big 10 in terms of flashiness? As for Au can we just sign a cheap ass deal w/ Russel Athletics and totally buck the trend & just go straight old school! (I like under armour as well) Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420417 Share on other sites More sharing options...
Tiger 8,930 Posted January 15, 2016 Share Posted January 15, 2016 Russell Athletic will hurt us in recruiting IMO. Kids love the gear Under Armour gives them (for football) Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420441 Share on other sites More sharing options...
EagleReedle 17 Posted January 15, 2016 Share Posted January 15, 2016 Russell Athletic will hurt us in recruiting IMO. Kids love the gear Under Armour gives them (for football) yeah i was sort of kidding . . . i don't think it would help us in recruiting but i can't lie i have a soft spot for Russell Athletic from way back when. Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420465 Share on other sites More sharing options...
GiveEmElle 1,559 Posted January 15, 2016 Share Posted January 15, 2016 So will Ohio St now become the Oregon of the Big 10 in terms of flashiness? As for Au can we just sign a cheap ass deal w/ Russel Athletics and totally buck the trend & just go straight old school! (I like under armour as well) Teasing my OSU friend about this now. 16 jerseys, 13 helmets, 8 knickers, 6 shoes, 3 socks. Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420491 Share on other sites More sharing options...
EagleReedle 17 Posted January 15, 2016 Share Posted January 15, 2016 So will Ohio St now become the Oregon of the Big 10 in terms of flashiness? As for Au can we just sign a cheap ass deal w/ Russel Athletics and totally buck the trend & just go straight old school! (I like under armour as well) Teasing my OSU friend about this now. 16 jerseys, 13 helmets, 8 knickers, 6 shoes, 3 socks. ha ha . . but seriously though you're probably right. Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420500 Share on other sites More sharing options...
AU64 10,122 Posted January 16, 2016 Share Posted January 16, 2016 So will Ohio St now become the Oregon of the Big 10 in terms of flashiness? As for Au can we just sign a cheap ass deal w/ Russel Athletics and totally buck the trend & just go straight old school! (I like under armour as well) Teasing my OSU friend about this now. 16 jerseys, 13 helmets, 8 knickers, 6 shoes, 3 socks. ha ha . . but seriously though you're probably right. That's about the only way for Nike to reach that $112M in "product". Of course those quantities you mention are per year.... Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420716 Share on other sites More sharing options...
AUGoo 2,792 Posted January 16, 2016 Share Posted January 16, 2016 Something about all that red and Nike makes me throw up in my mouth a little. Link to comment https://www.aufamily.com/topic/149658-ohio-state-signs-252m-deal-with-nike/#findComment-2420838 Share on other sites More sharing options...
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