Under Armour moves to terminate $280 million deal with UCLA

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Under Armour is attempting to terminate its 15-year $280M apparel and footwear deal with UCLA: 'We have been paying for marketing benefits that we have not received for an extended time period,' the company says in a statement.

"We know that this has been a challenging time for athletes, sports programs and performance apparel brands alike," it said."Under Armour will continue to preserve our strength in this challenging environment, while maintaining a strong network of partnerships with individuals, organizations and leagues that make us the on-field authority for focused performers."

UCLA said in a statement that it learned of Under Armour's intentions last week and would be working to prevent it from happening. "We are exploring all our options to resist Under Armour’s actions," UCLA's statement said."We remain committed to providing our hard-working staff and student-athletes with the footwear, apparel and equipment needed to train and compete at the highest level, as they — and our loyal Bruin fans — deserve."

The deal between Under Armour and UCLA set a record as the biggest collegiate apparel deal ever when it was announced inUntil the UCLA deal, Nike held the previous record with aNike holds some of the largest collegiate deals, including a 15-year $250 million partnership with the University of Texas and an 11-year deal worth about $169 million with the University of Michigan.

 

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They should start paying these college athletes.

Helping a friend...and her owner too:-) A small donation is awesome, and a share would be amazing as well. Thanks so, so much!

Perhaps UnderArmour can’t afford it anymore ? COVID 19 is a game changer 💸💸

And I -oop

Now they know what it’s like to be a college athlete! 🤣🤣🤣

bad business practice

Suck it up Under Armor!!

Both parties are collective losers.

“Student Athlete” charade somehow continues in 2020...

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