The Duncan Banner

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
  • Affirmative action ruling challenges colleges seeking diversity

    The U.S. Supreme Court's support of Michigan's ban on race-based affirmative action in university admissions may spur colleges to find new ways to achieve diversity without using racial preferences.

    April 23, 2014

  • A 'wearable robot' helps her walk again

    Science is about facts, numbers, laws and formulas. To be really good at it, you need to spend a lot of time in school. But science is also about something more: dreaming big and helping people.

    April 23, 2014

  • Cuba is running out of condoms

    The newest item on Cuba's list of dwindling commodities is condoms, which are now reportedly in short supply. In response, the Cuban government has approved the sale of expired condoms.

    April 23, 2014

  • The waffle taco's biggest enemy isn't McDonald's. It's consumer habits.

    Gesturing to Taco Bell, Thompson said McDonald's had "not seen an impact relative to the most recent competitor that entered the [breakfast] space," and that new competition would only make McDonald's pursue breakfast more aggressively.

    April 23, 2014

  • Screen Shot 2014-04-22 at 4.42.47 PM.png VIDEO: Leopard attacks crowd in India

    A leopard caused panic in the city of Chandrapur when it sprung from the roof of a house and charged at rescue workers.

    April 22, 2014 1 Photo

  • The top 12 government programs ever

    Which federal programs and policies succeed in being cost-effective and targeting those who need them most? These two tests are obvious: After all, why would we spend taxpayers' money on a program that isn't worth what it costs or helps those who do not need help?

    April 22, 2014

  • In cuffs... 'Warlock' in West Virginia accused of sexual assault

    Police in West Virginia say a man claiming to be a “warlock” used promises of magical spells to lure children into committing sexual acts with him.

    April 22, 2014 1 Photo

  • Cats outsmart the researchers

    I knew a lot had been written about dogs, and I assumed there must be at least a handful of studies on cats. But after weeks of scouring the scientific world for someone - anyone - who studied how cats think, all I was left with was this statement, laughed over the phone to me by one of the world's top animal cognition experts, a Hungarian scientist named Ádám Miklósi.

    April 22, 2014

  • McCain 1 House Republicans are more active on Twitter than Democrats

    Your representative in the House is almost certainly on Twitter. Your senator definitely is. But how are they using the social network? Are Democrats more active than Republicans, or vice versa? Who has the most followers on the Hill?

    April 22, 2014 1 Photo

  • Do your genes make you procrastinate?

    Procrastinators, in my experience, like nothing better than explaining away their procrastination: General busyness, fear of failure, and simple laziness are just a handful of the excuses and theories often tossed around. Now researchers from the University of Colorado Boulder have added another option to the list: genetics.

    April 21, 2014