Under Armour, UCLA settle lawsuit over $280M sponsorship deal

Under Armour and the University of California, Los Angeles (UCLA) have settled their longstanding litigation over a 2016 sponsorship deal that the Baltimore sportswear maker sought to terminate early. According to the settlement agreement obtained by the Baltimore Business Journal Friday, Under Armour was required to pay UCLA $67.49 million in a single cash payment by June 26, 30 days after the agreement was first signed on May 26. UCLA would then drop the civil lawsuit and the sponsorship would officially be terminated.