Under Armour Exiting NFL Deal
With less than a week to go before the Super Bowl, the timing is a bit odd that, according a report in the Financial Times, Under Armour is ending its on-field licensing agreement with the National Football League. The high-profile move is the latest in a series of cancelled deals by Under Armour with professional and collegiate organizations, including ending its Major League Baseball uniform supplier partnership and the termination of apparel deals with UCLA and the University of California, Berkeley.
The recent NFL termination will in restrict Under Armour accessories from being worn or displayed during games as well as limit the impact of its endorsement deal with Tampa Bay Buccaneers quarterback Tom Brady and end its run as the apparel provider for the NFL Scouting Combine.
According to the Financial Times report, the contract is worth an estimated $10 million to $15 million annually.
Under Armour is already involved in a lawsuit with the University of California, Los Angeles, after the company prematurely ended its 15-year, $280 million sponsorship of the school’s sports teams. And in November, Under Armour terminated its 10-year, $50-million sponsorship agreement with the University of Cincinnati.