Marketplace Roundup
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Under Armour Reaches Deal To Provide
Apparel To Athletes In SEC Championships |
In Baltimore, Andrea Walker reports Under Armour (UA) and the SEC Thursday reached a multi-year agreement for UA to "provide apparel to athletes competing in any" SEC championships, starting this year. The NCAA "allows athletes who participate in SEC championship games to receive a gift on behalf of the conference." UA did not disclose terms of the agreement (Baltimore SUN, 12/5). Meanwhile, CNBC’s Jim Cramer on Thursday's “Mad Money” said Nike should acquire UA. Cramer: “This match is so obvious I don't know why Nike hasn't done it already. … Under Armour is the hot sports apparel and footwear name. It's been justly described as the next Nike and best of all, its stock has taken a complete and utter beatdown!” Cramer noted Nike spends $5B a year on "buying back stock,” and said, “I would think that money would be better spent picking up Under Armour at an unbelievably low price and wiping out the only real potential long-range competition” (“Mad Money,” CNBC, 12/4).
CAVALIER APPROACH: In Cleveland, Brian Windhorst noted Cavaliers F Ben Wallace, like Knicks G Stephon Marbury, "launched a partnership for a signature shoe and clothing line with Steve & Barry's." But the "good intentions did not work out," as the company last week announced it was liquidating its 173 remaining stores. Wallace: "Things didn't happen the way they said they would. They didn't produce all the pieces they said they would." Windhorst notes Marbury earlier this year sued the company for $2M in unpaid royalties. Wallace "hasn't taken such actions, but is looking for a new company to endorse" (Cleveland PLAIN DEALER, 12/4).
DOWN THE ROAD: Toyota Motorsports National Manager Les Unger Thursday appeared on Fox Business' "America's Nightly Scoreboard," where he said of his company's NASCAR deals, “We have long-term sponsorships with NASCAR that we will make sure that we honor, but that being said with the market being as distressed as it is, we are obviously looking at areas in terms of reallocating some of our resources to make our jobs more efficient.” Mars Properties VP William Clements, asked if Mars is considering scaling back its NASCAR involvement, said, “We’re thinking about different ways to activate against the sport.” Tissot Watches U.S. President Sharon Buntain said the Swiss-based company is “very much behind motorsports in general," and added the company’s NASCAR sponsorship is a "vote of confidence in the U.S. market” (Fox Business, 12/3).
MYSTERY TRIP: "NASCAR Angels," a weekly, reality TV program from NASCAR, is teaming up with Exide Batteries, the official battery of NASCAR, on a holiday promotion running Nov. 24-Dec. 28. The grand prize winner of the promotion will receive a package that includes race tickets, hospitality, VIP tours, pit and garage access, roundtrip airfare, hotel accommodations, transportation and more to a NASCAR race. The specific NASCAR race will not be unveiled until the winner is named (NASCAR).
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