The University of Maryland Department of Athletics and Under Armour, Inc. announced that the performance apparel and footwear company will become the exclusive official outfitter of Maryland Athletics effective January 1, 2009.
The five-year, $17.5 million agreement gives Under Armour the right to provide uniforms, apparel and footwear to each of the Terps 27 varsity sports, including football, men’s and women’s basketball, lacrosse and soccer. Under Armour has previously signed apparel partnerships with Maryland’s football, men’s soccer, and men’s lacrosse teams. The University’s new department-wide outfitter agreement includes an annual Under Armour product allowance as well as a rights fee, marketing entitlements, event tickets, and retail licensing rights. The contract includes two one-year options exercisable with both parties consent.
The University of Maryland is a perfect match for the Under Armour brand with a rich heritage in performance and undeniable spirit to be the best,” said Kevin Plank, Under Armour Chairman and CEO. “Maryland has a tremendous, loyal fan base right in our own backyard and we believe this partnership will have an immediate positive impact for our brand and the top-level athletic program at the University.”
“This new Maryland Athletics partnership with Under Armour is a source of great satisfaction and excitement,” said University of Maryland Director of Athletics Deborah A. Yow. “We believe Under Armour is clearly positioned to be the industry leader in athletic apparel and footwear, across the country as well as globally.”
Plank founded Under Armour after playing college football as a special teams captain for the University of Maryland football team. He earned his Bachelor of Science degree in Business Administration from Maryland and is a member of the Board of Trustees of the University of Maryland College Park Foundation.
