Y-Body
05-24-2016, 11:47am
UCLA just signed a $280 million shoe and apparel deal, the biggest in NCAA history (http://www.latimes.com/sports/ucla/la-sp-0525-ucla-under-armour-20160525-snap-story.html)
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The 15-year, $280-million contract with Under Armour was scheduled to be announced at noon Tuesday, university officials told the Los Angeles Times.
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UCLA will receive $15 million in cash up front, according a person with knowledge of the agreement who was not authorized to speak publicly. The school will subsequently be paid approximately $11 million annually in rights and marketing fees.
Under Armour has agreed to supply about $7.4 million worth of clothing, shoes and equipment each school year and contribute an additional $2 million over the next eight years for upgrades at facilities such as the Morgan Center and the Acosta Athletic Complex.
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The Pac-12 Networks still has no agreement with DirecTV, so conference schools have seen television revenue fall millions short of initial projections.
UCLA bridged some of that gap by agreeing to a 10-year, $145-million extension with WME/IMG for its multimedia rights. Entering this school year, shoe money figured to be more significant.
Nike had already ignited a spending frenzy with three massive, 15-year contracts starting last summer. First came Michigan at a then-record $169-million. Texas was next at $250 million and finally Ohio State at $252 million.
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The 15-year, $280-million contract with Under Armour was scheduled to be announced at noon Tuesday, university officials told the Los Angeles Times.
...
UCLA will receive $15 million in cash up front, according a person with knowledge of the agreement who was not authorized to speak publicly. The school will subsequently be paid approximately $11 million annually in rights and marketing fees.
Under Armour has agreed to supply about $7.4 million worth of clothing, shoes and equipment each school year and contribute an additional $2 million over the next eight years for upgrades at facilities such as the Morgan Center and the Acosta Athletic Complex.
...
The Pac-12 Networks still has no agreement with DirecTV, so conference schools have seen television revenue fall millions short of initial projections.
UCLA bridged some of that gap by agreeing to a 10-year, $145-million extension with WME/IMG for its multimedia rights. Entering this school year, shoe money figured to be more significant.
Nike had already ignited a spending frenzy with three massive, 15-year contracts starting last summer. First came Michigan at a then-record $169-million. Texas was next at $250 million and finally Ohio State at $252 million.
...