Under Armour signs record-biggest apparel deal with one university

The sports apparel maker has reached a 15-year, $280-million footwear and apparel deal with the University of California, Los Angeles, a source told CNBC on Tuesday. “We knew that we were well-positioned to cut a deal”, said Dan Guerrero, the UCLA athletic director.

But after the two failed to renew their standing deal in April 2016, UCLA opened bidding on the athletic apparel rights to include rival brands Under Armour and Nike. Michigan’s new deal with Nike could be worth up to $173 million. “Under Armour shares those core values. They are about more than simply making athletes look good, they constantly pursue innovation in order to make athletes better”.

UCLA has been outfitted by Adidas for years.

The UCLA deal goes into effect July 2017. Because Under Armour not only understands this, but embraces it, we are excited to embark upon this new journey together. That company has now lost UCLA, Wisconsin and Notre Dame to Under Armour.

Under Armour has recently been focused on collegiate deals.

The deal between the two parties was expected for some time and the Los Angeles-appeal of UCLA for Under Armour is clearly a driving factor as UA CEO Kevin Plank said to the Times that “It was important for us to plant our flag in L.A”.

The Bruins and Under Armour will reportedly announce a 15-year, $280 million deal on Tuesday, ESPN.com reported.

UCLA has won more NCAA championships than any other school but those titles have come in sports like softball, volleyball and water polo.