Nike, Ohio State agree to $252M sponsorship deal

Nike has reached a deal worth $252 million to keep decking out Ohio State for at least the next 15 years.

The university will receive $112 million in products from Nike, and at least $103 million in cash.

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

To put things in perspective, Michigan signed a deal with Nike worth $15.3 million in cash and products per year. Ohio State's deal is worth $16.8 million annually.

In addition to being heavily sports-centric, the Buckeyes are doing well in the classroom. For 2014-15, 304 student-athletes across all 36 varsity sports earned Academic All-Big Ten honors - tied for tops in the Big Ten conference.

"Our athletes deserve the best performance wear to compete at the highest levels and get the most out of their experience," said Gene Smith, Ohio State’s vice president and Wolfe Foundation-endowed athletics director. "We're proud to make NIKE products available for our student-athletes."