SOUTH BEND — For the first time ever, Notre Dame athletics will feature a non-apparel brand as a jersey patch on all its varsity uniforms.
SoFi Technologies, a digital financial services company, has partnered with Notre Dame on a reported six-year deal that Yahoo.com pegged at an average of $18 million to $20 million per year.
Notre Dame made the announcement on Tuesday, July 28. SoFi becomes the official financial services partner of Notre Dame athletics.
The news comes as roster costs skyrocket across college sports in the NIL (Name, Image and Likeness) era. Ohio State, for instance, announced a similar deal with Chase Bank on Monday for a reported $15 million to $17 million per year.
Notre Dame’s record deal (for now) with SoFi will establish an annual fund to augment the school’s “4 For Forever” program through scholarships, financial education and career development.
“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.”
More than two dozen colleges have announced sponsorship agreements to wear uniform patches for at least one of their sports. In addition, the Big 12 Conference signed with Monster Energy for branding across football and men’s and women’s basketball including all 16 league members.
Mike Berardino covers Notre Dame football for the South Bend Tribune and NDInsider.com. Follow him on social media @MikeBerardino.
This article originally appeared on South Bend Tribune: Notre Dame athletics joins growing trend with SoFi jersey patch deal
Reporting by Mike Berardino, South Bend Tribune / South Bend Tribune
USA TODAY Network via Reuters Connect
By Mike Berardino, South Bend Tribune | USA TODAY Network
