Ohio State's athletics teams will have a jersey sponsor patch on them for the first time. The university announced a new partnership with JPMorgan Chase on Tuesday morning.
The Chase logo will appear as a patch on football jerseys - and the jerseys of the approximately 1,000 athletes who participate in the 36 men's and women's varsity sports at the university.
The patches will debut on football jerseys when Ohio State hosts Ball State in the season opener on September 5.
ESPN's Pete Thamel cited industry sources who said "this is expected to yield OSU nearly $17 million per year." Thamel added the figure is "an eye-popping number that’s expected to be an industry leader and bigger than many NBA jersey patch deals."
The NCAA approved a rule change in January that allowed Division I programs to place up to two commercial logos on their uniforms. The jersey patches are limited to a maximum of four square inches per logo.
In addition to the jersey patch, the deal with Chase will offer new Name, Image and Likeness opportunities for Ohio State athletes.
"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,” said Ross Bjork, senior vice president and Wolfe Foundation-Eugene Smith Endowed Athletics Director at Ohio State.
Chase will also have expanded branding at Ohio Stadium and the Schottenstein Center. They will also be the presenting sponsor of the new 1922 Club and offer exclusive new cardholder benefits.