Ohio State Signs Record $17M Jersey Patch Deal With JPMorganChase

Ohio State signed a $17 million annual jersey patch agreement with JPMorganChase, covering all 36 university sports teams. The deal is believed to be the richest college sports jersey patch agreement to date, according to Front Office Sports.

The agreement will reportedly include NIL (name, image, likeness) opportunities for Ohio State athletes, though specific details were not disclosed. Ohio State declined to confirm the financial value publicly. An Ohio State spokesperson told Front Office Sports that the deal "matches the size and strength of the Ohio State brand and the size and strength of JPMorganChase." JPMorganChase did not immediately respond to a request for comment.

Ohio State is the fourth Big Ten school to announce a jersey patch deal. Illinois partnered with Busey Bank for $6 million per year; Michigan State signed with MSUFCU; Wisconsin partnered with Culver's. Ohio State's $17 million annual agreement significantly exceeds the Illinois deal.

The valuation places Ohio State's deal above the average NBA jersey patch agreement. Per Front Office Sports' reporting, upper-end NBA deals for teams like the Knicks, Warriors, and Lakers range from $30 million to $50 million per year, but the average deal is worth around $10 million per season. Ohio State's $17 million annual contract exceeds several NBA jersey patch deals on average.

The Big 12 conference reached a different scale deal with Monster Energy. The conference receives $20 million per year through their jersey patch agreement, which equates to around $1 million per school. Monster Energy will have co-branded patches on all Big 12 football and men's and women's basketball jerseys and fields/courts. The Big 12 football and men's and women's basketball regular seasons will be branded as "Monster Energy Big 12 Football" and "Monster Energy Big 12 Basketball."

Industry sources called the Big 12-Monster deal problematic. According to Front Office Sports, sources labeled it "objectively, a terrible deal" while saying the schools are worth more than what they will receive. CFB analyst Josh Pate told the outlet: "The price point shocked me. It's not a situation where when someone wants to attach their brand to yours you just take whatever amount they'll give you. You define your value."