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Under Armour Puts UCLA In A Tough Spot

Is the company in long-term decline?

NCAA Basketball Tournament - First Four - Dayton
 DAYTON, OH - MARCH 13: Jaylen Hands #4 of the UCLA Bruins reacts after his teams loss to the St. Bonaventure Bonnies in the First Four game in the 2018 NCAA Men’s Basketball Tournament at UD Arena on March 13, 2018 in Dayton, Ohio. The St. Bonaventure Bonnies defeated the UCLA Bruins 65-58.
Photo by Joe Robbins/Getty Images

This is an interesting development: Under Armour signed a huge deal with UCLA in 2017 and now they want to terminate it.

UCLA understandably is not happy, hinting at a lawsuit so they can, uh, get the shoes they need. Yeah, that’s the ticket.

Under Armour had a rapid rise in the apparel industry but is apparently on the way down again. They had a bad quarterly report in February and that was before the pandemic really hit.

It’s more bad news for UCLA as the one-time dominant power in the PAC-12 has struggled in basketball and football and now may lose a critical contract. Toss in the dismal state of the PAC-12 Network and new A.D. Martin Jarmond, who just left BC for the job, is going to have his hands full.

At least new basketball coach Mick Cronin has given Bruins fans some reason for optimism. There’s not much good news otherwise.

It may not end at Under Armour: industry titan Nike lost nearly $800 million in the last quarter.