The Ohio State University Department of Athletics announced it has reached an agreement with IMG College, a division of IMG Worldwide, and RadiOhio Inc., for a 10-year multi-media rights partnership. The total deal is valued at nearly $128 million, which includes $110 million in guarantees, the largest athletics multi-media rights guarantee in collegiate sports history, and approximately $18 million in IMG’s assumption of production, payroll, tickets, and other expenses.
"We are extremely pleased to partner with IMG and look forward to a long-lasting venture," said Eugene Smith, Associate Vice President and Director of Athletics, The Ohio State University. "This arrangement helps to ensure the long-term financial stability of Ohio State Athletics by continuing to fund our 36-sport program."
Currently, IMG manages Ohio State's publishing rights, and RadiOhio controls the University’s radio rights. Under the terms of the new agreement, the IMG College and RadiOhio partnership will manage and market all rights associated with publishing, radio game play-by-play and coaches' shows, and live and delayed television and coaches' TV shows excluded from Big Ten Conference/NCAA contracts. The agreement also includes corporate sponsorships, signage, on-site marketing opportunities, and coaches' endorsements.
"The Ohio State University is one of the premier collegiate institutions in the country, and we are honored to have been selected to represent the Buckeyes," said Tom Stultz, Senior Vice President & Managing Director, IMG College. "The IMG and RadiOhio partnership will provide the University with one voice in the marketplace as we move forward to expand the successful Ohio State brand."
"The combination of IMG's global resources and RadiOhio's long-standing partnerships will maximize the opportunities we can develop for Ohio State," added Dave Van Stone, President & General Manager, RadiOhio, Inc. "We are excited about the new initiatives we can develop to expand the reach of Ohio State sports for fans and sponsors alike."
(Source: IMG)
