As their Adidas contract comes to a close next year, UCLA found themselves into a much massive and properous deal. Since signing a deal with Stephen Curry, Under Armour continues to make chess moves in business and presented UCLA with a deal on the table that they couldn't refuse.
Referencing article from L.A. Times, the constituents of the deal is worth $280 million dollars and spans for fifteen years.
"We knew that we were well-positioned to cut a deal," revealed Dan Guerrero, the UCLA athletic director. "Under Armour came at us hard."
I'm sure they did, pen, paper, money sign and everything! Under Armour was like, "sign right here by the X."
The Under Armour and UCLA deal made NCAA history when they shook hands on the deal, as the largest apparel and shoe contract. The cash out for UCLA will be $15 million and a yearly payout of $11 million during the course of the contract. The deal comes with some perks because Under Armour will provide UCLA with equipment, apparel, and shoes yearly; including supplies to enhance their facilities for eight years. The total of those expenses are worth $9.4 million dollars.
Although the deal has already been signed, the Under Armour and UCLA business affiliation goes into effect next year in 2017. It's unsure if negotiations are still on the table and if terms are still being met, none of that has been disclosed yet. Most likely not because the deal has already been inked.
Article Reference: L.A. Times