Sportswear company Under Armour (NYSE: UAA) will become an official footwear and glove partner of the National Football League (NFL) under a long-term partnership announced on Tuesday (Wednesday AEDT).
Under the multi-year partnership:
- the NFL will support Under Armour (UA) grassroots initiatives such as the UA Next platform to promote youth sports and development
- Under Armour will receive rights and intellectual property to include UA logos on on-field UA footwear and gloves, and
- Under Armour will have access to NFL media platforms, content creators and distribution channels to collaborate on content and initiatives.
The NFL did not disclose how much it would receive from the agreement, but it has been estimated at between US$10 million (A$15.9 million) and $15 million per year, a small proportion of the league’s estimated $13 billion of annual revenue.
The NFL’s Senior Vice President of Consumer Products Joe Ruggiero said the NFL was excited to embark on the partnership with Under Armour, bringing its innovative products to NFL football to enhance player performance.
“With the partnership, we hope to continue engaging current and future football players and fans around the world,” Ruggiero said in a media release.
Under Armour’s Senior Vice President of Global Sports Marketing Sean Eggert said the company was passionate about nurturing talent and transforming the way athletes performed.
"With a shared dedication to investing in the game, from the pros to grassroots, we’re thrilled to continue shaping the future of the sport alongside the NFL," Eggert said in the release.
Shares in Under Armour, the company founded in 1996 and known for its high-performance gear, including clothing, footwear, and accessories, closed 22 cents lower at $6.39, capitalising the company at $2.63 billion, on Tuesday.
