Under Armour Settles UCLA Sponsorship Suit for $67.5 Million
A trial on the $280 million agreement lawsuit was planned for October.
UCLA asserted Pandemic was used by Under Armour as an excuse to leave
Under Armour Inc. has agreed to pay $67.5 million to settle a lawsuit brought by the University of California,
Los Angeles, which claimed that the corporation terminated the largest college sports apparel sponsorship deal in history using the Covid-19 outbreak as an excuse.
Bloomberg received a copy of the settlement agreement from UCLA, which claimed the agreement was completed in May.
The trial for the lawsuit involving the $280 million sponsorship agreement was slated to begin in October.
The institution asked for damages in excess of $200 million.