Under Armour informs UCLA it wants to terminate deal with school

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Under Armour has informed UCLA that it wants to terminate the $280-million deal the apparel maker signed with the school in 2016.

A look at what happened in sports history on June 25 including UCLA baseball winning their first College World Series title.Under Armour agreed to a 15-year contract with UCLA in 2016 that was the richest shoe and apparel sponsorship in college sports history, replacing a deal the Bruins previously held with Adidas that expired in the summer of 2017. The deal gave Under Armour a flagship program on the West Coast while providing UCLA with a massive infusion of cash and athletic apparel.

As part of the agreement, Under Armour paid UCLA $15 million up front in addition to roughly $11 million per year in rights and marketing fees. The apparel company also agreed to supply the school with an average of $7.4 million in clothing, shoes and equipment each school year while contributing $2 million over an eight-year span toward athletic facility upgrades.

Should UCLA and Under Armour part ways, the school would seek a new apparel deal, presumably with one of the other major players in sportswear. UCLA had fielded offers from Nike and Adidas before picking Under Armour four years ago.is familiar with Under Armour, having worked with the apparel company as part of its sponsorship of Boston College’s athletic teams when he was the Eagles athletic director.

Source: Education Headlines (educationheadlines.net)

 

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Amazon going to make a move on sporting good and NCAA. Look out, Asian overpriced brands.

TheRock does this mean you’ll sign with the right brand Nike 😁

Remember when CEO Ken plank quit realDonaldTrump's manufacturing council ~2017? Hating Trump is not a business model like that poor dead horse bill krystol keeps proving. They can't scare up $280million, 2nd quarter closes in HOURS and they're stock is sht 🤣🤣Trump never loses

UA another blow 🤦🏾‍♂️🤦🏾‍♂️🤦🏾‍♂️🤦🏾‍♂️

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That's racist, right ... somehow

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And not one word in the entire article addressing why Under Armour wants out. Great reporting.

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