Under Armour Looking To Back Out Of $280M Deal With UCLA

Under Armour has informed UCLA that it "wants to terminate" the record-setting $280M deal the apparel giant signed with the school in '16, a "potential financial blow that the Bruins intend to fight." The company cited UCLA’s "inability to provide unspecified marketing benefits as required by the contract between the parties." UCLA AD Dan Guerrero "appeared to contest Under Armour’s ability to unilaterally dissolve its agreement with the school in a letter he sent to Bruins constituents." Any loss of revenue "would be doubly devastating to a UCLA athletic department already facing a massive budget deficit" (L.A TIMES, 6/28).

UA reportedly is attempting the "same thing at Cal." That is another "head-scratching" deal in which the company "way overpaid" (TWITTER.com, 6/27).