Under Armor is trying to break his 15-year, $ 280 million contract with UCLA.
“Under Armor recently made the difficult decision to suspend our partnership with UCLA as we have been paying for marketing benefits that we have not received for an extended period,” the company said in a statement on Saturday. “The agreement allows us to end in such a case and we are exercising that right.”
UCLA and Under Armor reached the $ 280 million deal in May 2016, and it went into effect in July 2017. According to Forbes, it remained the largest university apparel deal as of September 2019.
“UCLA Athletics learned this week that Under Armor is trying to terminate its 15-year clothing and shoe contract with us and the Bruin community,” the school said in a statement Saturday. “We are exploring all of our options to resist Under Armor’s actions. We remain committed to providing our staff and student athletes with the footwear, apparel and equipment necessary to train and compete at the highest level, as they and our faithful followers de Bruin – they deserve. “
Under Armor’s attempted move comes as UCLA is in the process of transitioning to Martin Jarmond as its new athletic director. The former Boston College AD will replace Dan Guerrero next week.
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