Univ. Of South Carolina Signs Deal To Make Under Armour Its Exclusive Apparel Provider
Univ. of South Carolina’s new apparel agreement with Under Armour “is finally done” after the school's Board of Trustees approved a six-year, $19M deal that "finally brings all of USC's athletic teams within the company umbrella," according to Scott Hood of GAMECOCKCENTRAL.com. USC General Counsel Terry Parham said the new agreement makes UA the "head to toe" provider of all apparel and equipment for the university's athletic teams. The contract runs through June 30, 2016, but “can be extended for an additional four years unless either party gives 120 days notice.” UA will “pay an annual rights fee to USC beginning with a $900,000 payment in 2011-12,” and that amount “will escalate yearly until reaching $1.2 million in 2015-16.” The rights fee "will rise by $25,000 in any year in which the Gamecocks are ranked in the Top 15 in apparel sales," as monitored by Collegiate Licensing Co. UA is “required to pay unspecified bonuses to USC based on how well the Gamecocks' teams perform.” The apparel company also is “obligated to spend $125,000 in each of the first three years of the deal -- and $150,000 in each year thereafter – ‘promoting, marketing and advertising’ the success of the USC athletic teams.” USC AD Eric Hyman, who Friday was given a $75,000 raise, said, "It's one of the Top 10 (deals) in the country and one of the top four in the SEC” (GAMECOCKCENTRAL.com, 8/5).