Ohio State University announced it has sold the media rights for its sports programmes in a 10-year, $128 million deal with IMG College and RadioOhio.
IMG College is a division of global sports agency IMG Worldwide. The terms of the deal include $110 million in guarantees - the largest multimedia rights package in college sports history - and $18 million for IMG’s assumption of production, payroll, tickets and other expenses.
IMG currently manages Ohio State’s publishing rights and RadiOhio controls the university’s radio rights. Under the new deal, IMG College and RadiOhio will manage and market all rights associated with publishing, game play-by-play and coaches’ shows on radio, and coaches’ television shows that aren’t included in the school’s contracts with the Big Ten Conference or the National Collegiate Athletic Association.
Ohio State Athletic Director Eugene Smith said the agreement will fund 36 sports, helping to ensure the long-term financial stability of the athletic program.
The deal with IMG College and RadiOhio also allows Ohio State University to seek corporate sponsorships, coaches' endorsements and sign advertising.
Ohio State has won 27 national championships in men’s team sports, including seven American Football titles.
