Under Armour to pay UCLA $67.5 million in settlement of termination of apparel sponsorship deal
UCLA will receive about $67.5 million from Under Armour as part of a settlement to resolve the school's lawsuit against the apparel company for terminating a record apparel sponsorship deal, according to a document obtained by ESPN.
The deal, signed in 2016, was the largest sponsorship agreement in college sports history at the time. "UCLA is one of the most recognized and respected collegiate names around the globe," Mary Osako, UCLA's vice chancellor of strategic communications, said in a statement to ESPN. "We are gratified to have resolved this matter in a way that benefits our student-athletes and the entire Bruin community."
"I inherited a deficit with UCLA athletics," athletic director Martin Jarmond told ESPN in July. "So when you have a significant financial challenge, it's difficult to just maintain, never mind to invest. This movenot only preserves the programs we have now but also allows us to invest in them in levels that can lead to more competitive success."
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