Under Armour ditches UCLA athletics

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PeteRasche
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Under Armour ditches UCLA athletics

Post by PeteRasche »

Ouch, man.

Under the guise of the term "marketing benefits", basically they're saying "you guys suck and we're not getting back any cred for having our logo splashed on your gear".

https://www.cbssports.com/college-footb ... efits/amp/

ml wave
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Re: Under Armour ditches UCLA athletics

Post by ml wave »

Think this says just as much about the financial position of Under Armour as it does the athletic position of UCLA.

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PeteRasche
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Re: Under Armour ditches UCLA athletics

Post by PeteRasche »

On one hand, sure... you know all the athletic gear companies are a little concerned about the worldwide situation right now... sports don't happen, gear doesn't sell. On the other hand, the story rattles off a bunch of other high-profile teams that UA supplies so it doesn't sound like they are hurting too much. But the UCLA contract was the largest sports gear contract in history (per the story) so dropping it is probably a good idea.

ml wave
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Re: Under Armour ditches UCLA athletics

Post by ml wave »

Oh, they're definitely hurting...stock down 54% for the year vs Nike down 4%. There's something going on there.

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Re: Under Armour ditches UCLA athletics

Post by ml wave »

Something apparently includes an SEC investigation into their accounting practices (from November)...

https://www.wsj.com/articles/under-armo ... 1572819835

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