Nike and Adidas may generate more yearly revenue than Under Armour, but the Baltimore-based sports apparel company has something the other two do not: a 10-year apparel contract with one of the top college athletics programs in the country.
Per Ross Dellenger of Yahoo Sports, Under Armour agreed to a new 10-year deal with the University of Notre Dame. Although the exact financial terms of the deal weren’t disclosed, the agreement is reportedly worth more than $10 million per year in cash and gear, making it the largest apparel deal in the history of college athletics.
At $10 million annually, Notre Dame’s annual apparel payout will be roughly equivalent to 1/4 of a full year’s media payout for a Big XII team.
— College Football Watcher (@CFBWatcher) August 1, 2023
Just an astronomical apparel deal closed by Notre Dame with Under Armour
Under Armour won a reported bidding war with Nike, Adidas and others, offering "millions more on average” than any other suitor, per FootballScoop.
Notre Dame became a free agent on the athletics apparel market in the spring after its previous 10-year deal with Under Armour, which paid the school approximately $9M per year, expired. The new deal was finalized on the same day the school revealed its new green football uniforms, which were met with overwhelmingly positive reviews on social media.
It's in the details ☘️ pic.twitter.com/C9CmZaCmoE
— The Fighting Irish (@FightingIrish) July 31, 2023
The university is arguably the biggest name brand among Under Armour’s NCAA partners — a list that includes Auburn, Maryland, South Carolina, Utah and Wisconsin. Under Armour recently terminated previous deals with California, Cincinnati, Hawaii and UCLA.
However, keeping Notre Dame in the fold keeps UA competitive with Nike and Adidas in the world of college athletics apparel. The most lucrative deals for Nike (Texas, Ohio State and Michigan) and Adidas (Kansas, Louisville and Nebraska) are believed to be more than $8M per year but less than Notre Dame’s $10M per year.
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