Inside an Under Armor store in Houston, Texas on November 3, 2021.
Brandon Bell | Getty Images
The pieces are coming together for the startup basketball league Unrivaled.
The 3×3 Women’s Hoop League announced Tuesday that it has signed a multi-year contract. under armor We aim to become its official uniform partner and performance outfitter. This follows the league recently announcing the signing of a number of big-name players and reaching a media broadcast deal with TNT Sports in October.
Financial terms of the deal were not disclosed, but Under Armor will provide performance apparel and accessories for all players, coaches and staff on and off the court.
“We couldn’t be more excited to partner with Unrivaled and bring the world’s best women’s basketball players to compete on this exciting new stage,” said Sean Eggert, Under Armor’s senior vice president of global sports marketing. I’m not happy about it.”
The retailer said it will make Under Armor basketball shoe options available to all players who do not have an active shoe contract. Additionally, Under Armor offers players the opportunity to create custom products.
New York Liberty’s No. 30 Brianna Stewart dribbles the ball during a game against the Indiana Fever at Gainbridge Fieldhouse on May 16, 2024 in Indianapolis, Indiana.
Nathaniel S. Butler | National Basketball Association | Getty Images
Unrivaled will open its inaugural season on January 17th in Miami. The league has established itself as a destination for WNBA stars to play basketball in the United States during the offseason.
In the past, many WNBA players have had to play overseas in the offseason as a way to supplement their income. According to ESPN, the starting salary in the WNBA is $64,154.
Unrivaled has signed 36 top players by offering attractive financial incentives including equity. The league announced that it is offering the highest average annual salary in women’s professional sports league history. We are supported by many investors.
The latest deal comes as Baltimore-based Under Armor is in the midst of a turnaround effort after founder Kevin Plank took the helm again in March of this year. former marriott The executive, Stephanie Linnertz, held the position for just about a year before being fired. She was the company’s second CEO to complete her term in less than two years.
Over the past few years, the brand has struggled to compete and drive full-price sales, relying on promotions and off-price channels to sell its products.
Before leaving, Mr. Linnertz had been working to increase marketing to women and improve its product offering, but Mr. Plank said he would reverse that strategy and double down on the men’s wear business when he returned to the helm. He then announced a turnaround plan centered on making Under Armor a premium brand and eliminating discounts to improve profits and increase demand.
Last month, the company showed some positive signs when it announced its second-quarter results. Upgrading his full-year profit forecast, Plank said the turnaround was “starting to gain momentum.” Still, the stock is down about 81% from its all-time high on September 17, 2015.
Under Armour’s deal with Unrivaled offers a glimpse into where the company is putting its money, perhaps hoping to focus more on female athletes in an attempt to capitalize on the rise in women’s sports to revitalize the brand. It shows that you are thinking.
Under Armor currently partners with top women’s college programs including the University of South Carolina, the University of Notre Dame, the University of Maryland, and the University of Utah.
“As a brand, we have a long history of investing in women’s basketball from the grassroots level to the professional level,” Eggert said.
