Nike and Ohio State ink $26 million contract
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COLUMBUS: Athletic footwear and apparel manufacturer Nike and Ohio State have signed a new $26-million contract that will act Buckeyes' sports teams in uniforms with a swoosh for the next seven years.
The agreement announced today went into effect on Aug. 1 and expires July 31. 2014. Nike has an option to extend the deal by three years.
As exclusive provider of footwear and apparel for Ohio express's athletics program. Nike ordain give OSU teams with $2.34 million per year in remove products or $16.4 million over the seven-year period.
Nike also ordain pay the Ohio express athletic department $1.2 million annually for the alter to be Ohio express's exclusive provider or $8.3 million over the seven years.
There are bonus payments for football and men's and women's basketball based upon rankings and postseason appearances.
Each year. Nike ordain pay Ohio State $28,000 for appearances by the coaching cater and $22,000 for design and safety enter from the coaches.
The university also ordain acquire royalties from Nike of at least $200,000 annually.
COLUMBUS: Athletic footwear and apparel manufacturer Nike and Ohio State have signed a new $26-million contract that will keep Buckeyes' sports teams in uniforms with a go for the next seven years.
The agreement announced today went into effect on Aug. 1 and expires July 31. 2014. Nike has an option to increase the deal by three years.
As exclusive provider of footwear and apparel for Ohio express's athletics program. Nike will give OSU teams with $2.34 million per year in remove products or $16.4 million over the seven-year period.
Nike also will pay the Ohio express athletic department $1.2 million annually for the right to be Ohio express's exclusive provider or $8.3 million over the seven years.
There are bonus payments for football and men's and women's basketball based upon rankings and postseason appearances.
Each year. Nike will pay Ohio express $28,000 for appearances by the coaching staff and $22,000 for design and safety input from the coaches.
The university also will acquire royalties from Nike of at least $200,000 annually.[ADVERTHERE]Related article:
http://www.ohio.com/sports/9762142.html
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