COLUMBUS, Ohio (AP)  A new agreement puts Ohio State University in charge of managing Nationwide Arena, a move intended to create a better financial deal for the Columbus Blue Jackets. Ohio State, which manages the nearby Value City Arena, will handle booking concerts and other events at both venues. That is expected to save about $1 million annually for each side because of lower administrative costs and better leverage in booking. University spokeswoman Shelly Hoffman confirmed the agreement Tuesday. It was first reported by The Columbus Dispatch. The Blue Jackets rent Nationwide Arena from the Nationwide insurance company and other owners for $5 million a year. The team pays a management company to run the venue and has said it loses $4 million a year on its operation. The team's total deficit runs about $12 million annually. ___ Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Guidelines: You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. Read more