Legal
Under Armour Settles UCLA Sponsorship Suit for $67.5 Million
- Suit over $280 million deal was scheduled for October trial
- UCLA claimed Under Armour used pandemic as pretext to pull out
Photographer: Kirk Irwin/Getty Images
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Under Armour Inc. is paying $67.5 million to resolve a lawsuit by the University of California at Los Angeles that accused the company of using the Covid-19 pandemic as a pretext to end the largest college-sports apparel sponsorship deal ever.
The parties on Friday asked a California state court to dismiss the suit. UCLA said the deal was reached in May and shared a copy of the settlement agreement with Bloomberg. A university spokesperson declined to say whether the money had yet been paid.