Last Updated on September 9, 2014 by Kristi Dosh
The University of Maryland has extended its relationship with Under Armour for an additional 10 years through 2023-2024. Under Armour founder Kevin Plank is a University of Maryland graduate, so it’s no big surprise for Maryland has re-signed. The previous contract expired last December, but it called for a cash payments of $1.475 million annually and a product allowance of $1.9 million annually. The copy I have also has a handwritten notation by the cash provision that they receive an additional $368,750 per quarter.
No word yet on the money involved in the new Maryland contract. Notre Dame landed the nation’s largest apparel contract last year from Under Armour, worth a reported $90 million over 10 years, or $9 million annually in cash, equipment and apparel. Auburn, another Under Armour school, will receive $1.9 million in cash this year and $2.5 million in product. Fellow SEC and Under Armour school South Carolina is slated to receive $1.1 million in cash and $2.1 million in product.
Not only was Maryland’s last contract signed five years ago, but its athletics teams have since moved from the ACC to the Big Ten, where Maryland is only the second Under Armour school, joining Northwestern. It’ll be interesting to see what sort of bump Maryland gets with the new contract. Don’t expect Notre Dame money, but they should get a respectable increase.
The announcement of the new contract was accompanied by the unveiling of new “Star Spangled” uniforms for this weekend (see gallery below).
“The University of Maryland is an integral part of Under Armour’s history, culture and identity,” said Matt Mirchin, Executive Vice President, Global Marketing, Under Armour. “We look forward to continuing this remarkable partnership over the next decade and beyond, outfitting the Terrapin student-athletes and fans in the most innovative performance gear in the market.”
“We are excited to continue our outstanding partnership with Under Armour as we usher in a new era of Maryland athletics in the Big Ten Conference,” said Kevin Anderson, University of Maryland Athletic Director. “Kevin Plank and his entire team have been strong supporters of our athletic programs and our student-athletes who proudly don the Under Armour brand. This decade-long agreement showcases Under Armour’s unwavering commitment to the University of Maryland and our fans.”
This weekend, Maryland football players will sport historically-inspired uniforms paying homage to the 200th anniversary of the Battle of Baltimore at Fort McHenry and the Star Spangled Banner. Sneak peak photos below.