Ohio State signs record $17M annual jersey patch deal with JPMorganChase

Ohio State entered a corporate partnership with JPMorganChase that includes jersey patches on all 36 of the Buckeyes' athletic teams and will generate nearly $17 million per year for the athletic program, according to ESPN's reporting.

The deal is believed to be one of the biggest non-apparel corporate sponsorships in college sports. The yearly income generated by the jersey patches is expected to be an industry leader and is bigger than many NBA jersey patch deals, per ESPN.

The partnership includes NIL opportunities for athletes in addition to the jersey patch component, according to ESPN's reporting. Ohio State athletic director Ross Bjork stated in comments reported by ESPN: "JPMorganChase is a global brand with deep roots in Ohio, making them a natural partner that shares our commitment to innovation, excellence and long-term community impact." Bjork added: "Together, we have built a comprehensive and historic partnership that reflects the strong commercial strength of the Ohio State Athletics identity and the broader college athletics landscape. This relationship creates meaningful opportunities for our student-athletes that support the sustained excellence and competitiveness of our athletic programs, while honoring the tradition and values of Ohio State."

Uniform patches were approved in January by Division I leaders as a mechanism to generate millions in revenue for athletic departments. Under the new rules, teams can place up to two patches of no more than 4 square inches on uniforms for regular-season games, in addition to logos already allowed for uniform manufacturers, per ESPN.

The College Football Playoff has been exploring how to allow patches for that sport's postseason competition, according to ESPN's reporting.