Under Armour agrees to $67.49 million settlement with UCLA
Under Armour has agreed to pay UCLA $67.49 million to resolve a lawsuit filed two years ago.
UCLA filed a lawsuit against Under Armour in August, 2020, in U.S. District Court in Los Angeles for breach of contract, seeking damages in excess of $200 million. The settlement was reached in late May and approved by the University of California's Board of Regents.
Under Armour announced two years ago that it was ending its deal with UCLA. The two sides were four years into a 15-year deal worth $280 million, which was the highest in college athletics.
The company cited force majeure due to the coronavirus pandemic as one of the reasons it was terminating the deal. Another was UCLA's struggles in its flagship sports.
UCLA eventually agreed to a new apparel contract with Nike and Jordan Brand, which began last July. That deal is for six years and is worth $46.45 million.
