Ohio State Apparel Partnerships Guarantee $97 Million For Scholarships, Student Groups
Ohio State University says apparel partnerships with the sportswear company J. America and online retailer Fanatics Inc. guarantee $97 million for scholarships and student groups during its 10-year agreement.
The deal announced Thursday includes an upfront payment of $23 million.
Webberville, Mich.-based J. America is an Ohio State licensee, and Jacksonville, Fla.-based Fanatics already operates an online store for the athletics department.
The school is implementing a new business model for apparel, which constitutes about two-thirds of its $9 million in annual revenue from trademarks and licensing.
Ohio State says the companies were chosen after demonstrating commitments to Ohio-based business and socially responsible business practices.
Students had protested over the possibility of a contract with the merchandising arm of the Dallas Cowboys, alleging it would support sweatshop labor.