It’s no secret that Under Armour has been killing it — just check out the sportswear imprint’s latest earnings report and Stephen Curry’s shoe sales for proof. The latest exhibit of CEO and founder Kevin Plank’s power? The 20-year-old brand’s new deal with UCLA.
Believed to be the biggest in NCAA history and slated for an official announcement later today, Under Armour’s deal with the Bruins will be worth $280 million USD over the next 15 years, thus eclipsing Ohio State and Nike’s current 15-year/$252 million USD deal as the most lucrative in collegiate athletics. “This deal was about geography,” said said Plank. “It was important for us to plant our flag in L.A.” Though full terms have yet to be disclosed by either Plank or the university, sources say UCLA will receive $15 million USD in cash up front and $11 million USD annually over the course of the deal. Under Armour will also supply the school with $7.4 million USD-worth of clothing, shoes and equipment each year, as well as $2 million USD over the next eight years for facilities upgrades.
The terms of the partnership are even more impressive when you consider that Under Armour’s 10-year deal with Notre Dame — which kicked off in 2014 and was perhaps the brand’s biggest “get” at the time — is worth $90 million USD. Under Armour’s growth over the past couple of years alone has been staggering.
UCLA, who is currently sponsored by adidas, will come in to the Under Armour fold beginning in July of 2017.