Under Armour beats Adidas for NCAA Tournament teams, trailing only Nike

Almost a quarter of the teams playing in this year’s NCAA men’s basketball tournament will don the Under Armour Inc. logo on their uniforms. Baltimore-based Under Armour (NYSE: UAA) will outfit 16 of the 68 teams, or 23.5% of this year’s field, according to Apex Marketing Group. That’s six more teams than the sportswear maker outfitted last year and represents the second-most teams it has ever had representing the brand in the NCAA Tournament. Under Armour’s high mark came in in 2019 when it had 17 teams participate.