14
September
2018
|
08:18 PM
America/New_York

Ohio State, Coca-Cola extend relationship

15-year contract to support scholarships, student projects and other priorities

COLUMBUS, Ohio — The Ohio State University has extended its relationship with Coca-Cola for another 15 years through a pouring rights contract.

The new pouring rights contract extends the relationship through June 30, 2033, and has a total projected value of $84.7 million. The contract provides funds to support student initiatives and strategic priorities, including scholarships, student discovery projects, educational initiatives and internships.

Ohio State has a 20-year history with Cola-Cola. Through this renewed relationship, Coca-Cola will continue to offer a variety of beverages, drawing on its portfolio of more than 800 products, including 250 low- and no-calorie options. Currently, more than two-thirds of the beverages sold in campus vending machines are low- or no-calorie.

The contract supports a variety of academic priorities, including:

  • $2.25 million for student scholarships
  • $1.88 million for student discovery projects and other educational initiatives
  • Six student internships per year

The funding for student projects will result in grants of $125,000 per year to support academic and other projects, as determined by the university. Ohio State has begun work on a process to award those grants.

The contract extension includes a $6 million upfront payment for maintaining and improving campus facilities.

For Coca-Cola, the pouring rights contract provides exclusive rights to supply the Columbus campus with beverages in most categories. The contract continues to provide exceptions in some areas, such as beverages used in patient care at the Wexner Medical Center.