UCLA is about to get a sweet Friday afternoon direct deposit from Under Armour.
The school is set to receive a $67.5 million settlement from the apparel company to resolve a lawsuit for terminating a mega sponsorship deal, according to ESPN..
The 15-year, $280-million agreement in 2016 was the largest sponsorship deal in college sports history.
Under Armour backed out in June 2020, however, citing “marketing benefits” that UCLA had not provided for an “extended time period.”
The sports equipment company attempted to invoke the force majeure clause after UCLA stopped all athletic events because of the pandemic.
UCLA sued Under Armour for more than $200 million in August of that year, citing a breach of contract. Under Armour countersued in Sept. 2021, claiming the school violated another agreement by covering its logos with social justice patches on football and basketball uniforms.
Both lawsuits have since been dropped in light of the settlement.
In the last month, UCLA announced its intentions to leave the Pac-12 for the Big Ten after next season.
The decision reportedly left Rose Bowl officials scrambling. Tournament of Roses President Amy Wainscott said that the future of the game was “somewhat uncertain” in a letter to Association members.
Pac-12 commissioner George Kliavkoff said Friday that UCLA would be “welcomed back” if it chose to reverse course. He admitted that would be unlikely.