Notre Dame signs multi-year patch deal with SoFi Technologies

Notre Dame reached a multiyear deal with SoFi Technologies to place the financial service company's brand on the Fighting Irish's jerseys in every sport starting this season, the university announced Tuesday. The six-year deal is worth about $18 million to $20 million per year and is believed to be the richest corporate patch deal in college athletics history.

It is the first time a corporate logo will appear as a patch on Notre Dame's jerseys. As part of the partnership, SoFi will establish a new annual $1.4 million fund to support Notre Dame's '4 for Forever' campaign, which funds scholarships in 26 sports and supports student-athletes through financial education, career development and other opportunities. SoFi will also establish a full-tuition Champions Scholarship for one men's and women's walk-on.

Notre Dame athletic director Pete Bevacqua said in a statement that the relationship will create lasting value for the university's student-athletes and their families. Earlier Tuesday, Ohio State announced a new corporate partnership with JPMorganChase that includes jersey patches for all 36 of the Buckeyes' teams. The bank will pay nearly $17 million per year to Ohio State's athletic program, according to sources.