Nike is already blessed with riches in the NFL endorsement market. Under Armour has combine rights in the near future and its players will be allowed to wear gloves with the interlocking UA starting in 2012. The brand will be the official apparel sponsor for next season and in 2012, Nike will take over for the next five years. Newton will be allowed to wear shoes with Under Armour logos on the field in the near future though his jersey will have Reebok logo on it. Ultimately, Under Armour was willing to put more guarantees behind Newton's marketing future. Under Armour wanted Newton more, but it was a question as to whether Nike, which has more than 20 times the marketing budget of UA, wanted to pay up enough to use Newton as a part of leveraging its upcoming exclusive apparel deal. The battle for Newton came down to Under Armour versus Nike. He typically wore 17 Under Armour logos each Saturday during the season. Thanks to its deal with Auburn, and the school's national championship this season, Newton arguably became the most identifiable athlete of the brand in the company's 15-year history. The signing provides great consistency to Under Armour. Under Armour spokesperson Diane Pelkey would not confirm the signing and Newton's marketing agent, IMG's Carlos Fleming, also declined to comment on the deal. Under Armour will unveil a whole collection of Cam Newton Auburn items, including jerseys with his name on the back, as well as football and training gear, including signature a signature shoe line. Sources said the deal seeks to capitalize on both Newton's fame in college and his future potential. Terms were not disclosed, but according to sources this deal will be the largest deal ever given to an incoming NFL rookie, surpassing the $1 million a year deal adidas gave to Reggie Bush in 2006 both in terms of annual guarantee and overall dollars. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower And UA ended its relationship with Cincnnati, a decision that reportedly cost Under Armour $9.75 million to exit a 10-year, $50 million deal.Best Debt Consolidation Loans for Bad Credit It also terminated its deal with Cal, a 10-year, $85 million pact. The company walked away from a 15-year, $280 million deal with UCLA. Under Armour has also terminated a number of high profile deals with college programs. Nike stepped in and took the deal, adding MLB to the NFL and NBA contracts in their portfolio. In 2019, Under Armour walked away from their agreement with Major League Baseball to be the provider of on-field jerseys the decision reportedly saved the company $50 million. Under Armour is reportedly restructuring its business to focus on being “a performance brand.” Individual player contracts were going to be re-evaluated. Other NFL athletes representing UA include Cam Newton and Julio Jones. Under Armour’s most notable sponsorship deal in the NFL is with Tampa Bay quarterback Tom Brady, whose deal will reportedly stay in place. The Financial Times reported the termination of the contract would be at the end of this year. On-field NFL licensing agreements are estimated to be valued between $10 and $15 million, according to report. The NFL is the latest deal Under Armour is backing away from, joining a growing list of high-profile relationships the company has decided to close according to a report from the Financial Times on Tuesday. According to reports, Under Armour is leaving the NFL behind.
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