May 25, 2016 07:37 AM EDT
Why Under Armour Signs Record-Breaking $280M Deal With UCLA Amid Low Winnings At Basketball, Football; Debunks Nike’s Record [VIDEO]
On Tuesday, Under Armour and UCLA announced a 15-year school-wide shoe and apparel deal worth $280 million beating Nike's deal with three other universities.
The announcement was posted on Twitter by UA welcoming UCLA to the company. Then the school revealed later that it had signed the largest apparel deal in NCAA history which is taking off on July 1, 2017.
According to CNN Money, Under Armour's new deal shattered Nike's previously held three largest deals: a 15-year sponsorship for Ohio State worth $252 million, another 15-year $250 million deal with the University of Texas and the 11-year deal amounting to $169 million with the University of Michigan, with a four-year option.
But the reason why UA chose UCLA amid not winning a title in either college football or men's basketball for the longest time, last claiming the men's basketball tournament victory in 1995. Nevertheless, UCLA has won more championships in volleyball, softball and water polo, ESPN reported.
UCLA Athletic Director Dan Guerrero said: UCLA has constantly been about challenging the status quo and breaking through barriers and Under Armour has these core values. They are about more than merely making athletes look good but UA continuously pursue innovation to make athletes better, ESPN added.
The UCLA deal gives Under Armour a stronger presence at West Coast, as the Baltimore-based company signed Cal last month. In the recent years, Under Armour has had an aggressive crusade with college deals where it outbidded Adidas on both Notre Dame and Wisconsin. In April, the company also signed a 10-year deal with the University of California, Berkeley that amounts to $86 million. Under Armour also signed several big-time athletes under its brand: NBA MVP Stephen Curry, outfielder Bryce Harper, NFL quarterback Tom Brady, star golfer Jordan Spieth including retired boxing legend Muhammad Ali, CNN Money added.
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