Under Armour signs an $86 million deal with UC Berkeley

Under Armour signs an $86 million deal with UC Berkeley

Under Armour and the University of California, Berkeley, have agreed to a 10-year, $86 million deal.

The contract will outfit all of the school’s varsity sports team as well as its recreational club teams.

Under Armour will design and provide apparel to the universities sports teams, and provide them with footwear and equipment for the schools Division 1 sports teams and its 34 club programs.

The deal will benefit about 2,150 students.

The new contract takes effect on July 1, 2017 and is the first such school-wide partnership at Cal Berkeley, according to a release from the university.

A secondary part of the deal will require Under Armour to offer internships for students and job opportunities for grads.

It will also give students, faculty and staff members a discount on the UA HealthBox device and will host nutrition challenges.

The university will also work with Under Armour on charitable events.

“Going well beyond a typical apparel contract, this relationship will extend across the entire campus,” Cal Chancellor Nicholas Dirks said.

Cal is the 34th Division 1 school that Under Armour has an all-school partnership with.

The company isn’t alone in its dealings with universities. Nike has a $169 million contract with University of Michigan.

UCLA earns $7.5 million per year from an Adidas contract.

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at OnlineDegree.com.