Graphic: Denny Check / Managing Editor for Graphic Design

Graphic: Denny Check / Managing Editor for Graphic Design

Ohio State and Nike Inc. reached a massive contract agreement last week that will extend the current partnership until 2033.

However, the 15-year contract extension, which the university believes to be the biggest ever for a college contract, will not just benefit athletic programs. The deal surpasses the University of Texas’ $250 million contract, a contract also held by Nike.

More than 16 percent of the total OSU-Nike contract value of $252 million will be committed toward non-athletic endeavors at OSU.

University President Michael Drake said in a release the new contract will open new doors for OSU students, as well as student-athletes.

“The comprehensive nature of this partnership is a win for all Ohio State students,” he said. “The expanded commitment by Nike will support access, affordability and excellence for Buckeye students and student-athletes across our campus.”

Of the more than $41 million dedicated off-field and off-court, $15 million in cash, as well as another $8.5 million in products, will be committed to support student-focused initiatives.

Nike also agreed to 90 internship opportunities over the course of the 15-year contract life, allowing four internships annually to non-athlete students, as well as two internships annually to student-athletes.

Also with the agreement, $2.5 million in scholarships are expected to be made available through a financial aid endowment.

Another $15 million is set aside for marketing community events at the university.

“We approached this as a university contract, not one that’s purely focused on athletics,” said Gene Smith, university vice president and athletics director. “Under this partnership, every student — whether they play club sports, Division I sports or no sports at all — will be eligible to benefit.”

OSU’s previous contract with Nike was set to expire in 2018, and was worth $46 million.

Joaquin Hidalgo, president and general manager of Nike North America, said in a release his company is “delighted to extend that partnership” into the 2033 academic year.

“Nike and Ohio State share similar values of innovation and a commitment to excellence, and we look forward to an exciting future both on and off the field for years to come,” he said.