Notre Dame, Ohio State announce lucrative jersey patch sponsorship deals on the same day

Notre Dame and Ohio State reached lucrative jersey patch sponsorship deals totaling around $30 million at a time schools search for ways to cash in on the revenue-sharing era.

Ohio State announced a multiyear sponsorship deal with JPMorgan Chase on Tuesday. Terms were not released, but multiple outlets reported it at $17 million annually.

Also Tuesday, Notre Dame announced a jersey patch deal with financial services company SoFi Technologies worth $18 million to $20 million, according to multiple outlets.

A sprawling $2.8 billion House antitrust settlement approved by a federal judge last month cleared the way for schools to directly pay players through licensing deals — and they're already cashing in.

Notre Dame will feature patches on uniforms for every sport and SoFi will establish an annual $1.4 million fund to support Notre Dame’s “4 for Forever” campaign, funding scholarships in 26 sports and supporting student-athletes through financial education, career development and other opportunities.

"Our ‘4 for Forever’ promise at Notre Dame is paramount to providing the best student-athlete experience in the country,” Notre Dame athletic director Pete Bevacqua said in a statement. “SoFi shares in this commitment to developing strong, ambitious leaders who are set up for success at Notre Dame and beyond. Together, our relationship will create lasting value for our student-athletes and their families for generations to come.”

Ohio State jerseys and uniforms will feature a jersey patch of the Chase Bank logo in a deal that spans the department's 36 varsity sports.

“This relationship creates meaningful opportunities for our student-athletes that support the sustained excellence and competitiveness of our athletic programs, while honoring the tradition and values of Ohio State," Ohio State athletic director Ross Bjork said in a statement.

Multiple other schools have already announced jersey patch sponsorships.

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AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football