Under Armour’s Deal with Notre Dame Could End Soon, Report Says
Under Armour‘s apparel deal with Notre Dame may soon be coming to an end.
The sponsorship deal has reportedly expired, according to a report in Sports Illustrated. This leaves the university open to new opportunities for other deals with brands such as Nike and Adidas, who are could emerge as two likely suitors to fill the gap. Under Armour is also still in the running for a renewal, according to the report.
Both entities inked a 10-year deal in 2014, under which Under Armour became the apparel provider for all 26 Notre Dame varsity teams. The deal, which was believed to be worth $90 million, replaced the university’s prior contract with Adidas.
FN has reached out to Notre Dame for comment. Under Armour declined to comment.
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Last year, Under Armour paid a more than $67 million settlement to UCLA for not honoring the terms of their $280 million contract. The company has also retreated from other athletic sponsorship deals with Cal, Hawaii and Cincinnati.
Under Armour this week reported adjusted earnings per share of 18 cents during the fourth quarter, 3 cents ahead of the 15 cents analysts projected on average, according to FactSet. Revenues rose 7.5 percent to $1.4 billion from $1.3 billion. However, the company gave lackluster guidance for this year as new CEO Stephanie Linnartz repositions the brand for long-term success.
