Under Armour has reached a buyout agreement with the University of Cincinnati, terminating its apparel sponsorship contract, according to documents obtained by the Baltimore Business Journal.
The agreement reportedly requires Under Armour to pay a $9.75 million exit fee to the University and also provide $3.65 million worth of product through June of 2021.
Under Armour became the official outfitter of Cincinnati athletics in 2015 via a 10-year, $50 million sponsorship agreement.
Photo courtesy University of Cincinnati
