COLUMBUS, Ohio The Ohio State University Department of Athletics today 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.”
The new deal goes into effect July 1, 2009 and will run through 2019.
About The Ohio State University Department of Athletics
The Ohio State University Department of Athletics is a member of the Big Ten Conference and sponsors 36 fully funded varsity teams 17 for women, 16 for men and three co-educational. The department is committed to providing its more than 1,000 student-athletes with the finest in academic and athletics support in order to ensure a quality and life-enhancing experience. The Department of Athletics is completely self-supporting and receives no university monies, tax dollars or student fees. In Fiscal Year 2008-09, the Department of Athletics will transfer back to the University more than $26 million in assessments, including nearly $13 million in grant-in-aid costs.
About IMG College
IMG College is the leader in developing integrated licensing, marketing, and multi-media opportunities for the nation’s top collegiate brands across local, regional, and national platforms. IMG College partners include the NCAA and its 88 championships, NCAA Football, leading conferences, and some of the most prestigious universities in the country. IMG College is a division of IMG Worldwide, the world’s premier sports, media, and entertainment company. For more information, please visit www.imgworld.com.
RadiOhio Inc. is a member of the Dispatch Broadcast Group, which includes The Ohio State Radio Sports Network, WBNS-AM/FM, the Ohio News Network, the Radio Sound Network, WBNS-10TV, and WTHR-TV, Indianapolis.