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10 year deal with Under Armour
Posted on 10/1/15 at 1:11 pm
Posted on 10/1/15 at 1:11 pm
@BMattAU: Auburn has signed another 10-year deal with Under Armour. More details coming in about an hour
ETA: The Auburn-Under Armour relationship that began in 2006 will continue with a new nine-year, $78.1 million deal the school and the athletic apparel company announced Thursday. The new contract includes $22.5 million in cash and $10 million worth of Under Armour stock in the deal that runs through the middle of 2025.
Auburn Director of Athletics Jay Jacobs said the new contract "gives us even a greater opportunity to enhance our overall student experience."
"The Auburn brand is so strong and Under Armour saw that. They are rewarding us for how strong our brand is how we do business and the way our students represent us. We can take that and make sure we even do more for our student-athletes."
David Benedict, the athletic department's chief operating officer said the new contract renews the trust between the school and Under Armour.
"What this means is both Auburn and Under Armour valued the previous 9½ years," Benedict said. "We've chosen to continue our partnership for the foreseeable future."
Under Armour said it was happy to extend the relationship.
"The Tigers are part of our brand's heritage and we are thrilled to have them as an integral part of our future," said Adam Peake, Under Armour's Executive Vice President, Global Marketing.
Auburn, which was one of the first schools to sign with Under Armour, renegotiated the final year of its original 10-year contract as part of the new package. The $78.1 million contract is worth $8.68 million annually to Auburn athletics, trumping the old 10-year contract that was worth $36.5 million and paid the school $3.5 million annually.
ETA: The Auburn-Under Armour relationship that began in 2006 will continue with a new nine-year, $78.1 million deal the school and the athletic apparel company announced Thursday. The new contract includes $22.5 million in cash and $10 million worth of Under Armour stock in the deal that runs through the middle of 2025.
Auburn Director of Athletics Jay Jacobs said the new contract "gives us even a greater opportunity to enhance our overall student experience."
"The Auburn brand is so strong and Under Armour saw that. They are rewarding us for how strong our brand is how we do business and the way our students represent us. We can take that and make sure we even do more for our student-athletes."
David Benedict, the athletic department's chief operating officer said the new contract renews the trust between the school and Under Armour.
"What this means is both Auburn and Under Armour valued the previous 9½ years," Benedict said. "We've chosen to continue our partnership for the foreseeable future."
Under Armour said it was happy to extend the relationship.
"The Tigers are part of our brand's heritage and we are thrilled to have them as an integral part of our future," said Adam Peake, Under Armour's Executive Vice President, Global Marketing.
Auburn, which was one of the first schools to sign with Under Armour, renegotiated the final year of its original 10-year contract as part of the new package. The $78.1 million contract is worth $8.68 million annually to Auburn athletics, trumping the old 10-year contract that was worth $36.5 million and paid the school $3.5 million annually.
This post was edited on 10/1/15 at 2:15 pm
12
Posted on 10/1/15 at 1:13 pm to allin2010
Praise Yeezus
Posted on 10/1/15 at 1:14 pm to allin2010
This is bigger for UA than it is for Auburn. Im interested to see how close AU & ND are in numbers.
Posted on 10/1/15 at 1:23 pm to allin2010
I'll see how big it is before commenting.
Posted on 10/1/15 at 1:44 pm to Weagle25
Maybe UA is going to take care of us since we were one of the 1st big schools to give them a shot.
Posted on 10/1/15 at 1:46 pm to AU24
N. Dames deal was insane ($9 Million a year)... some others... LINK
Last summer, Georgia inked a contract extension with Nike keeping the Bulldogs in swooshes through the 2023-24 athletic year. Details of the deal were not disclosed at the time, but the Athens Banner-Herald has uncovered the contract through an open records request and found that UGA will receive at least $40.8 million in cash and apparel.
The Dawgs will receive $2.88 million annually in gear and $1 million in cash, plus a $2 million signing bonus. Georgia’s contract is ahead of what apparel powerhouses Texas, Alabama, Kentucky and Florida reportedly receive from Nike, though the ‘Horns contract expires next year. The Bulldogs are still well behind what Michigan earns from Adidas (up soon as well) and Notre Dame’s agreement with Under Armour.
“If you compare across the SEC, all the deals are fairly close,” Georgia associate AD for external operations Alan Thomas told the paper. “There may be some a little longer term, some a little less term. There are some minor differences in all of them. Florida’s deal, to my knowledge, doesn’t have the cash component and is different in product. The Kentucky deal is a little different as well as how they do cash product. The Tennessee deal is a brand new deal (in 2014 with Nike worth a reported $34.9 million over eight years).”
Last summer, Georgia inked a contract extension with Nike keeping the Bulldogs in swooshes through the 2023-24 athletic year. Details of the deal were not disclosed at the time, but the Athens Banner-Herald has uncovered the contract through an open records request and found that UGA will receive at least $40.8 million in cash and apparel.
The Dawgs will receive $2.88 million annually in gear and $1 million in cash, plus a $2 million signing bonus. Georgia’s contract is ahead of what apparel powerhouses Texas, Alabama, Kentucky and Florida reportedly receive from Nike, though the ‘Horns contract expires next year. The Bulldogs are still well behind what Michigan earns from Adidas (up soon as well) and Notre Dame’s agreement with Under Armour.
“If you compare across the SEC, all the deals are fairly close,” Georgia associate AD for external operations Alan Thomas told the paper. “There may be some a little longer term, some a little less term. There are some minor differences in all of them. Florida’s deal, to my knowledge, doesn’t have the cash component and is different in product. The Kentucky deal is a little different as well as how they do cash product. The Tennessee deal is a brand new deal (in 2014 with Nike worth a reported $34.9 million over eight years).”
Posted on 10/1/15 at 1:53 pm to plazadweller
We're still their second biggest school. And we're their biggest in the SEC which under the last contract we were guaranteed to have the biggest SEC deal
This post was edited on 10/1/15 at 1:55 pm
Posted on 10/1/15 at 2:03 pm to TheSandman
quote:
Praise Yeezus
In Yeezus' name we pray
Posted on 10/1/15 at 2:05 pm to Weagle25
Posted on 10/1/15 at 2:07 pm to allin2010
quote:
Auburn’s new 9-year deal with Under Armour is worth $78.1 million. Top 5 in nation, tops in SEC accd to AD Jay Jacobs
Posted on 10/1/15 at 2:09 pm to AU24
Thats big
Posted on 10/1/15 at 2:18 pm to allin2010
quote:
10 million worth of Under Armour stock
this is an interesting aspect. hopefully proves fruitful
Posted on 10/1/15 at 2:26 pm to allin2010
At least Jacobs can do one thing right
Posted on 10/1/15 at 2:30 pm to jvilletiger25
Now being reported as the 3rd largest deal in college sports.
Posted on 10/1/15 at 2:47 pm to allin2010
Not as big as I was expecting. My guy told me it would be a larger deal. That is still a mighty fine deal nonetheless.
Posted on 10/1/15 at 2:57 pm to MrAUTigers
I was hoping we'd be the first big Puma school
Posted on 10/1/15 at 2:59 pm to allin2010
quote:
The $78.1 million contract is worth $8.68 million annually to Auburn athletics, trumping the old 10-year contract that was worth $36.5 million and paid the school $3.5 million annually.
Posted on 10/1/15 at 3:02 pm to jvilletiger25
quote:
At least Jacobs can do one thing right
Finally. But I would bet someone other than him handled this deal. Had it been JJ alone, we would be paying UA.
Posted on 10/1/15 at 3:04 pm to CaptainBrannigan
But according to everyone we are broke after the new HD Jumbotron
Posted on 10/1/15 at 3:05 pm to plazadweller
Jacobs seems to be the poorman's version of Roger Goodell. Despite seemingly doing everything wrong, he somehow still has a job.
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