“We were deserving in this deal to be number one in the country. 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,” Ohio State Athletic Director Gene Smith to Cleveland.com. “We feel at this time it’s such a good deal for us.”
Recently, Nike signed a 15-year, $200 million extension with Texas and last July an 11-year, $169 million deal with Michigan. The latter deal reportedly involved the school getting almost $77 million in cash. It was the most lucrative deal of its kind at the time.
“After careful consideration, the right partner for the University of Michigan was Nike. This decision, this partnership is about more than Michigan athletics; at the core, it is about our university community and it is about two great names reuniting for an opportunity that speaks to more than uniforms and apparel,” then-interim Michigan Athletic Director Jim Hackett said at the time. Prior to that, it had the largest Adidas apparent and equipment deal in history.