Under Armour Ends $50M Agreement with Cincinnati

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Baltimore-based apparel manufacturer Under Armour has canceled its sponsorship agreement with the University of Cincinnati in a move intended to save the company money as it struggles with losses amid the pandemic.

The $50 million Cincinnati deal will be bought out by Under Armour, under an agreement where the company will pay $9.75 million as an exit fee, and supply the Bearcats with $3.65 million worth of product, according to the Baltimore Business Journal. It’s the latest in a series of cost-cutting moves, including the company ending its $280 million deal with UCLA, canceling an agreement with Cal and renegotiating contracts it has with athlete endorsers. 

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