Disappearing money

From the Bruin: Already facing a $19 million budget deficit, the Bruins could be staring at more trouble. Under Armour is attempting to leave its record-breaking 15-year, $280 million deal as the supplier of UCLA Athletics’ apparel just as the two sides enter their fourth year together. The news was first reported by Los Angeles Times’ Ben Bolch and later confirmed by UCLA Athletics. In an emailed statement, UCLA Athletics said the contract would not be ended so easily.

“UCLA Athletics learned this week that Under Armour is attempting to terminate its 15-year apparel and footwear contract with us and the Bruin community,” the statement read. “We are exploring all our options to resist Under Armour’s actions..."

Under Armour and UCLA agreed to the deal May 24, 2016, going into effect July 2017. It remains the largest sponsorship contract in all of college athletics and was expected to run until 2032...

Full story at https://dailybruin.com/2020/06/27/under-armour-seeks-to-end-record-breaking-sponsorship-deal-with-ucla