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Auburn, Under Armour Quietly Extend Partnership Through '15-16
Published December 23, 2010
|Auburn Would Receive $200,000 Bonus From
Under Armour If It Wins BCS Championship
Auburn Univ. has "quietly operated this year under a new Under Armour apparel agreement" that the university values at $27.45M in cash and products over seven years, according to Jon Solomon of the BIRMINGHAM NEWS. Documents reveal that the new deal, agreed to in August '09 and paying Auburn $3.9M per year, "nearly doubled its five-year, $10.6 million deal with Under Armour" in '05. Auburn Senior Associate AD for External Affairs Scott Carr: "We feel comfortable this is probably one of the top 10 deals in the country, so we're very excited about that." Solomon reported the new contract went into effect this academic year, when Auburn's "annual rights fee payment increased" from $850,000 to $1.65M. The amount increases to $1.7M in '11-12; $1.75M in '12-13 and '13-14; $1.8M in '14-15; and $1.85M in '15-16, when the deal expires. Auburn's "product allowance from Under Armour will be $1.25 million annually over the next six years, up from $550,000" in '09-10. The new contract also "no longer requires Under Armour to keep Auburn with the highest rights fee in the company's deals with SEC schools," a provision in the previous deal that was a "consideration for being the first SEC member to sign" with Under Armour. The extension "comes with some higher bonuses for team success." Auburn will receive a $200,000 bonus if it wins the BCS National Championship, "up from the previous $100,000 bonus if the Tigers finished No. 1." Similarly, the Auburn men's basketball team "would receive a $200,000 bonus for winning the NCAA Tournament, up from $100,000 in the previous deal" (BIRMINGHAM NEWS, 12/22).