Claremore Daily Progress

Community News Network

January 21, 2014

Under Armour signs biggest deal ever for college sports

The University of Notre Dame announced a 10-year apparel contract with Under Armour, which Athletic Director Jack Swarbrick called the largest in the history of college sports.

The South Bend, Ind.-based school didn't provide financial details for the agreement, which includes an equity option for Notre Dame. Citing unidentified people familiar with the terms, ESPN said the deal was worth $90 million, more than the $82 million that Adidas agreed to pay the University of Michigan over a 10-year deal.

"It is a partnership that will benefit our student- thletes in a number of ways," Swarbrick said in a release on the school's athletics page. "And in as much as this represents the largest financial commitment ever made by a brand to a university, it will provide the critical resources we need to enable our student-athletes to compete at the highest levels."

Under Armour will supply footwear, apparel and uniforms for all 26 Fighting Irish varsity programs. That includes the football team, which has produced seven Heisman Trophy winners and claims 11 national championships, and the defending national champion men's soccer team.

 "Notre Dame is the standard-bearer of excellence in collegiate athletics and is one of the most recognizable and admired universities in the world," Under Armour founder and chief executive officer Kevin Plank said in the release. "We look forward to collaborating with the university's administration, athletic department, student-athletes, alumni and its powerful fan base to uphold the Fighting Irish's championship pedigree."

The Baltimore-based company has a market capitalization of $8.96 billion, less than competitors Nike Inc. ($65.3 billion) and Adidas ($26 billion). It plans to use the university in global marketing campaigns and social media initiatives, according to the release.

Notre Dame has been sponsored by Adidas for the past 17 years. The Fighting Irish football team, which lost to the University of Alabama in the national title game following the 2012 season, competes as an independent. Most other Notre Dame teams began play in the Atlantic Coast Conference this season.

Swarbrick didn't provide details on the equity option in the contract. Under Armour shares closed Tuesday up 3.4 percent to $84.78.



 

1
Text Only
Community News Network
  • 20140729-AMX-GIVHAN292.jpg Spanx stretches into new territory with jeans, but promised magic is elusive

    The Spanx empire of stomach-flattening, thigh-slimming, jiggle-reducing foundation garments has expanded to include what the brand promises is the mother of all body-shaping miracles: Spanx jeans.

    July 29, 2014 1 Photo

  • Medical marijuana opponents' most powerful argument is at odds with a mountain of research

    Opponents of marijuana legalization are rapidly losing the battle for hearts and minds. Simply put, the public understands that however you measure the consequences of marijuana use, the drug is significantly less harmful to users and society than tobacco or alcohol.

    July 29, 2014

  • linda-ronstadt.jpg Obama had crush on First Lady of Rock

    Linda Ronstadt remained composed as she walked up to claim her National Medal of Arts at a White House ceremony Monday afternoon.

    July 29, 2014 1 Photo

  • Can black women have it all?

    In a powerful new essay for the National Journal, my friend Michel Martin makes a compelling case for why we need to continue the having-it-all conversation.

    July 29, 2014

  • Dangerous Darkies Logo.png Redskins not the only nickname to cause a stir

    Daniel Snyder has come under fire for refusing to change the mascot of his NFL team, the Washington Redskins. The Redskins, however, are far from being the only controversial mascot in sports history.  Here is a sampling of athletic teams from all areas of the sports world that were outside the norm.

    July 28, 2014 3 Photos

  • 'Rebel' mascot rising from the dead

    Students and alumni from a Richmond, Va.-area high school are seeking to revive the school's historic mascot, a Confederate soldier known as the "Rebel Man," spurring debate about the appropriateness of public school connections to the Civil War and its icons.

    July 28, 2014

  • wd saturday tobias .jpg Stranger’s generosity stuns Ohio veteran

    Vietnam War veteran David A. Tobias was overwhelmed recently when a fellow customer at an OfficeMax store near Ashtabula, Ohio paid for a computer he was purchasing.

    July 28, 2014 1 Photo

  • 072214 Diamond Llama 1.jpg Llama on the loose corralled in Missouri town

    A llama on the lam cruised Main Street Tuesday before it mistook a resident’s fenced backyard for a place to grab a meal and freshen up.

    July 22, 2014 2 Photos

  • NWS-HB0713-HowardMartin-004.jpg Airman laid to rest back home in Indiana six decades after death

    The mystery of what happened to a military transport plane that disappeared in the fall of 1952 into an Alaskan glacier was solved two years ago when a helicopter crew spotted the wreckage. But it took another two years to retrieve the remains of Airman Howard Miller and 16 other servicemen passengers. Saturday, Miller was laid to rest in his hometown of Elwood, Ind., with full military honors. Hundreds turned out for the funeral and burial services.

    July 13, 2014 2 Photos

  • New York to offer free lunch to all middle-school students

    New York's $75 billion spending plan for the fiscal year that began last week includes the first step toward offering free lunch for all 1.1 million students, expanding a program now reserved only for the city's poorest children.

    July 9, 2014