Plank touts Under Armour’s basketball business ahead of NCAA Final Four

Kevin Plank could not be more thrilled that two of the teams in the Final Four of this year’s NCAA men’s basketball tournament are sporting the Under Armour Inc. logo.

Plank, the CEO who founded Baltimore-based sportswear company 23 years ago, told CNBC on Friday that having two sponsorship teams in the Final Four is a “huge, huge moment for the brand.” Under Armour has deals with Texas Tech University and Auburn University — both of whom are are making their first ever appearances on college basketball’s biggest stage.

“You’ve got two amazing Cinderella stories like Texas Tech and the Auburn Tigers, their first Final Four appearances and they are doing it wearing our brand,” Plank said. “I think it just underscores the fact that what we are doing is right.”

Auburn University will receive $7.71 million from Under Armour this year in the most lucrative deal of the four remaining teams, according to records obtained by the Portland Business Journal, a sister publication. Texas Tech…

Read the full story from the Washington Business Journal.