MUScoop
MUScoop => The Superbar => Topic started by: shoothoops on June 27, 2020, 11:56:42 AM
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It is being reported that Under Armour is trying to get out of its 15 year $280 million contract with UCLA. (it was a record at the time, surpassing Nike deals with Michigan, Texas, Ohio St.) Notre Dame (10 years $90 million, and Auburn are other big Under Armour schools) Previously UCLA was with Adidas 1999-2016.
https://www.latimes.com/sports/ucla/story/2020-06-27/under-amour-informs-ucla-it-wants-to-terminate-deal-with-school?_amp=true&__twitter_impression=true
https://twitter.com/frntofficesport/status/1276929231352717314?s=19
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Wow. I wish the article had contained some details from the contract -- such as if there's any kind of language that would let UA break the deal, or if there's an out by paying a termination fee, etc -- but I'm guessing the reporter included all the information that he could get out of UA and UCLA.
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It is being reported that Under Armour is trying to get out of its 15 year $280 million contract with UCLA. (it was a record at the time, surpassing Nike deals with Michigan, Texas, Ohio St.) Notre Dame (10 years $90 million, and Auburn are other big Under Armour schools) Previously UCLA was with Adidas 1999-2016.
https://www.latimes.com/sports/ucla/story/2020-06-27/under-amour-informs-ucla-it-wants-to-terminate-deal-with-school?_amp=true&__twitter_impression=true
I accidentally posted this in the COVID section. I meant to put it in General Superbar. Perhaps it can get moved by a Mod.
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I'm very curious as to what the Force Majeure clause in this contract.
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I'm very curious as to what the Force Majeure clause in this contract.
Yep. if a party wants to get out of a contract these days, it should be a lot easier than it normally would as long as it had a decent boilerplate Force Majeure clause.
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It is being reported that Under Armour is trying to get out of its 15 year $280 million contract with UCLA. (it was a record at the time, surpassing Nike deals with Michigan, Texas, Ohio St.) Notre Dame (10 years $90 million, and Auburn are other big Under Armour schools) Previously UCLA was with Adidas 1999-2016.
https://www.latimes.com/sports/ucla/story/2020-06-27/under-amour-informs-ucla-it-wants-to-terminate-deal-with-school?_amp=true&__twitter_impression=true
https://twitter.com/frntofficesport/status/1276929231352717314?s=19
Wisconsin's deal with UA is actually better than the reported ND deal, but the devil is in the details.
UCLA's deal looks ridiculous in comparison. No national exposure for the Pac 12 right now.
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There is a specific calamaties clause either side can take in the UCLA/Under Armour contract.
https://twitter.com/latbbolch/status/1276944616768409602
UA sales are down 54% from same quarter last year.