University of Maryland, Under Armour continue partnership via 12-year, $98 million contract extension 

Maryland's flagship university and the Baltimore-based sports apparel and footwear maker Under Armour have agreed on a new contract.

Taking its “Protect This House” slogan seriously, Under Armour is pushing its relationship with the University of Maryland to the next level even as it pulls back on similar deals nationwide.

The state’s flagship university and the Baltimore-based sports apparel and footwear maker launched by former Terps football player Kevin Plank have agreed on a new contract that will provide $98 million to Maryland over 12 years. The deal would begin July 1 and run through June 30, 2036.

The proposal will be reviewed Friday by the University System of Maryland’s Board of Regents.

“The University of Maryland, like Under Armour, is special. We will forever be connected thanks to our brand quite literally being born on the field in College Park, so this extension further solidifies our commitment,” said Plank, Under Armour’s executive chairman. “Through this partnership, we will continue to gain access to not only Maryland’s athletes, but also their entrepreneurial mindset and common passion for innovation. The proximity to Baltimore and the elite level of talent they attract as the state’s flagship institution gives us further reason to be excited.”

Terps athletic director Damon Evans said the sides have been working on the extension over the past nine months.

“We value our partnership with Under Armour,” Evans said. “There’s a lot of pride in being able to represent a brand that is built in this state, a brand that was founded by someone who went to this institution, someone who has been a great partner, someone who has played football here. So this is really a good deal for all concerned, and as we like to say, we believe it’s an iconic deal.”

With an annual price tag of almost $8.2 million, Maryland joins an exclusive tier of colleges and universities with deals believed to range from $8 million to $10 million per year. As of 2023, that group included Notre Dame and Wisconsin (Under Armour), Michigan, Ohio State and Texas (Nike), and Kansas, Louisville and Nebraska (Adidas).

Over the past several years, Under Armour has pulled back on what was an ever-growing portfolio of schools. The company ended partnerships with Cincinnati, Hawaii and UCLA. Auburn and California left for Nike, and Boston College went to New Balance, but Under Armour continues to maintain sponsorships with South Carolina and Utah.

The brand’s pullback has come as it has retrenched and restructured amid stalled sales, particularly in its key North American market.

Although the Terps did not open a bidding war with other athletic brands, Evans said he is pleased with Under Armour’s offer.

“We had a relationship with what we believe to be an iconic brand, and we were able to sit down and get a deal that we believe was to our liking and our value,” he said. “I would tell people this: don’t mistake this as we’re not assessing the marketplace and understanding what institutions were getting and understanding the deals that are out there. We did all of our due diligence. This wasn’t something that we took lightly. In doing our due diligence, we were able to find out what like programs were getting, and we found where we fit in the marketplace, and we made a decision based on that.”

The new contract would dwarf the previous 10-year partnership between the entities. That contract, which has been in place since July 1, 2014, and expires June 30, guaranteed nearly $33 million in rights fees and athletic apparel from Under Armour to the Terps.

Evans attributed the extension’s increase in value to the university’s triumphs in sports.

“We’ve had a lot of success at the University of Maryland,” he said. “Since we’ve joined the Big Ten [in 2014], we’ve won 49 championships, and I wanted them to know that. I believe we were one of the founding schools for Under Armour, and I believe that our football program and our basketball programs — which gain the most visibility — have continued to improve.”

While “certain elements” of the revenue will go to the department’s marketing fund, Evans said the rest has not been earmarked for specific projects or teams. He said he thinks the contract will help both sides continue to develop products that benefit the school’s athletes and consumers in the general public.

“When you talk about deals of this size and this magnitude, the length of the deal shows a strong commitment on their part as well as a strong commitment on our behalf,” he said. “And watching them continue to innovate and add more things to their products and make things better, this is significant for us because when you have deals like this, it allows us to provide our student-athletes and our coaches with the things they need to be able to compete at the highest level, and that’s what we want to be able to continue to do.”

Plank echoed that sentiment in his statement.

“We believe what makes this 12-year extension so unique is the ability to use them as a resource for building our team and testing our product,” he said. “Utilizing Maryland teams and athletes as true proof points for some of our most important athletic innovation breakthroughs. Together, we will lock arms and work to make ALL athletes better through passion, design, and the relentless pursuit of innovation.”

The tie between Maryland and Plank, Under Armour’s founder and chief executive officer, is well-publicized. Plank is a 1996 graduate who walked onto the football team and has been a vigorous supporter of the school’s athletic programs.

Evans said he cherishes the opportunity to maintain a partnership with a graduate and strengthen an in-state brand.

“They continue to be a partner, and our relationship is mutually beneficial,” he said. “It’s a Maryland-based company, and I believe in trying to do business with institutions within the state of Maryland. And obviously, Kevin Plank is someone who has been a great partner and alum as a former football player here and great ambassador and great friend and great contributor to our overall success. So all in all, this is great for the University of Maryland, and I’m excited to continue the relationship.”