Under Armour reportedly has inked a 15-year, $280 million sponsorship contract with one of the most iconic college sports programs in the country -- UCLA. According to a report by the Los Angeles Times, UCLA will receive $15 million in cash up front and will subsequently be paid approximately $11 million annually in rights and marketing fees.
Under Armour has agreed to supply roughly $7.4 million worth of clothing, shoes and equipment each school year and contribute an additional $2 million over the next eight years for upgrades at facilities such as the Morgan Center and the Acosta Athletic Complex.
Under Armour previously signed a 10-year sponsorship extension with the University of Maryland, which is where founder Kevin Plank went to school.
The deal is reportedly the most lucrative in the history of college sports. Nike set off a spending frenzy for college sponsorship deals last summer. First was a deal with Michigan at a then-record $169 million, followed by Texas at $250 million and finally Ohio State at $252 million.
But splashy college deals isn't the only area where Under Armour has been able to grab headlines from Nike of late.
Try basketball sneakers, which have long been dominated by Nike and its various high-profile endorsers such as Michael Jordan, Lebron James and Kobe Bryant. That is, until Nike ran into the juggernaut that is Golden State Warriors two-time MVP Stephen Curry over the past six months.