Under Armour has extended its yearslong sponsorship deal with the University of Maryland’s athletics department, a partnership that is close to home for the company’s founder Kevin Plank, a former Terrapins football team captain.
The new deal extends Under Armour’s sponsorship for another 12 years through 2036. Financial terms were not disclosed.
Under Armour began outfitting Maryland’s football program in 2004, the first college football team in the country to wear Under Armour jerseys. It has been the athletics department’s exclusive outfitter since 2009, supplying Under Armour-branded shoes, apparel and equipment for Maryland’s varsity teams.
The new partnership will also include club and intramural teams for the first time.
A name, image and likeness (NIL) brand ambassador program will allow Maryland student-athletes to earn compensation from Under Armour for promoting its products.
Plank, 51, was the university’s football special teams captain before graduating in 1996, the same year he founded Under Armour. Plank stepped down as CEO in 2020. He retuned to the CEO position earlier this year, replacing chief executive Stephanie Linnartz just over one year after she took over.
Under Armour reported $1.33 billion in revenue for its latest quarter, down from $1.4 billion a year earlier. North American revenue fell 10%, though sales gained in Europe, the Middle East and Africa and Latin America.
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