Under Armour, Inc. (NYSE:UA) Monday announced a 10-year partnership with Major League Baseball to supply official uniform, the company’s first deal with a major professional sports league. Under the deal, the Baltimore firm will become the exclusive provider of on-field apparel, including jerseys and game-day and training outerwear for the league’s 30 clubs, according to the company.
"This is a watershed moment for the Under Armour brand as this partnership with MLB and Fanatics furthers our collective dedication to bringing passion, energy and innovation to the game of baseball," Under Armour Chief Executive Officer Kevin Plank said. The 10-year partnership will begin on later than the 2020 season. The official uniform now is provided by Majestic Athletic, a division of VF Corp.
Major sports brands in the world are competing for the market for sports endorsements and partnerships. Under Armour and Adidas AG are trying to challenge Nike Inc., the largest sports brand in the world. Nike got an eight-year contract to provide outfitting for the National Basketball Association beginning next season. While Adidas inked a deal with the National Hockey League last year. Under Armour shares rose 2.8 percent to $30.87 in the early trading.
"This is a tremendous opportunity to elevate and deliver what our brand can do on a big stage," said Peter Murray, Under Armour's vice president of global brand and sports marketing.