In 2022, JPMorgan Chase bankers were retained to help Florida State University explore potential private equity funding for its athletic department. Four years later, the bank announced its first sponsorship deal in college sports, a wide-ranging partnership with the Ohio State Buckeyes.

The two engagements, which involve two different units within the banking giant, together showcase the rapid professionalization of college sports. External financing and multimillion-dollar jersey patch deals are both staples of the more traditional U.S. pro sports leagues—and JPMorgan Chase has featured prominently in both sectors—but they’re relatively recent arrivals in the college ranks.

Under the Ohio State deal, the Chase logo and name will be added to the uniforms of all 36 Buckeyes varsity teams starting in the 2026-27 academic year. It will also feature additional sponsorship space, benefits for Chase customers and educational opportunities for athletes that include financial literacy resources and career development.

Though financial terms weren’t announced, Ohio State is one of the richest and most successful athletic departments in the country, so it’s reasonable to expect its patch partner would be among the most expensive. Reps for Ohio State and Learfield, the school’s multimedia rights partner, declined to provide specifics.

Various outlets reported that it would pay in the $15-$17 million range annually, citing “industry sources,” an intentionally vague designation that usually does imply some direct inside info. If accurate, that range would put the deal on the upper end of NBA patches. (The NFL is the only major U.S. league that doesn’t have corporate logos on its uniforms beyond its apparel partner). The most expensive deal in the NBA is the Golden State Warriors’ agreement with AI cloud provider Iren, which will pay more than $50 million annually starting next season.

Chase is the current jersey partner of the NBA’s Dallas Mavericks and the WNBA’s Golden State Valkyries. The group has a wide sports sponsorship portfolio that includes Madison Square Garden, the naming rights to the Warriors’ and Valkyries’ arena, and MLB’s Arizona Diamondbacks. 

Several hours after Ohio State made its announcement on Tuesday, Notre Dame announced it had struck a sponsorship deal with financial services giant SoFi, a multiyear agreement that is reportedly worth between $18-$20 million a year.

JPMorgan Chase’s deal with Ohio State, of course, covers every Buckeyes program, including its football and men’s basketball teams. Those teams routinely play in front of sold-out crowds, with millions watching at home. The football team, which won a national title two years ago, was No. 1 in ESPN’s preseason rankings last month.

While jersey patches are making their NCAA debut this school year, colleges and conferences around the country remain engaged in talks on capital infusions from institutional funds. The FSU talks didn’t yield a deal, but both Utah and the Big 12 have recently inked unique financing arrangements. The Big Ten, which includes Ohio State, was close last year to a $2.4 billion loan from a California pension fund, but the talks eventually fell apart.

While some athletic departments have signed smaller deals with national brands, many partnered with local businesses, including some banks. In the Big Ten for example, Michigan State’s jerseys will feature the logo of the MSU Federal Credit Union, and Illinois’ will feature Busey Bank.

Sportico asked Tuesday for a copy of the JPMorgan Chase contract, but Ohio State records custodians said the agreement was between the bank and Learfield, and therefore not subject to disclosure.

UPDATED: This story was updated to include news of the Notre Dame-SoFi partnership and comment from Ohio State on why its agreement is not subject to disclosure.