In July of last year, Michigan’s reported apparel deal with Nike set a then-record of $169 million over 15 years (the final figure came in at just shy of $174 million).
Four months after UM’s new deal was reported, news surfaced that Texas’ new contract with Nike would be worth $250 million over 15 years. In January of this year, Ohio State announced its new deal with Nike, an agreement that will pay that school upwards of $252 million over 15 years. Four months later? There’s a new unofficial record-holder.
According to ESPN.com‘s Darren Rovell, “Under Armour and UCLA will announce a 15-year schoolwide shoe and apparel deal worth $280 million” later Tuesday. Scout.com is also reporting the same financial parameters of an agreement between the two entities.
From the latter’s report:
UCLA’s agreement with Under Armour, too, will be unique in the details, providing UCLA a vast amount of benefits that are reportedly unequaled in other apparel agreements. For one, we’ve learned that the money is guaranteed, and doesn’t include royalties, which is a significant difference.
UCLA’s athletic program’s have been aligned with adidas since 1999. A press conference to announce the switch to Under Armour is set for 3 p.m. ET.