April 13, 2007
The University of South Carolina Athletics Department has agreed to partner with Under Armour, Inc. (NYSE: UA) as the official outfitter of the University's Division 1-A football team, Athletics Director Eric Hyman announced today. Beginning with the Gamecocks' 2007 football season, the Baltimore-based performance leader will outfit the Gamecocks squad from head-to-toe in Under Armour performance apparel and footwear.
The new six-year football-only contract with Under Armour is worth approximately $10.8 million ($600,000 cash and $1.2 million in product per year). The previous contract with Russell Athletics paid the University $450,000 per year and covered four sports.
"This is a phenomenal deal for the University of South Carolina," said Hyman. "We had several companies interested in outfitting the Gamecocks. Through negotiations we were able to parlay the success and excitement that football has created to significantly increase the amount of revenue generated from our apparel contract. This is a football-only agreement that will have a residual benefit on many of our other Varsity sports."
"As head coach, I'm extremely happy that we are associated with Under Armour," said Steve Spurrier. "This is one of the fastest rising companies in the country and the leader in performance apparel and footwear. The players enjoy wearing Under Armour gear and we look forward to showcasing the new uniforms in 2007. It's a real cool deal."
Under Armour is an authorized supplier of footwear to the NFL and outfitter of now four top collegiate athletic programs that also includes fellow Southeastern Conference (SEC) member Auburn University, University of Maryland, and Texas Tech University, this deal strengthens Under Armour's commitment to on-field authenticity on all playing fields.
"This is a big day for Under Armour and the University of South Carolina. We are proud to partner with the Gamecock football program and Coach Spurrier," said Under Armour Chairman and CEO Kevin Plank. "Playing in the SEC, you need every single advantage available and as the leaders in performance apparel and footwear, we like to say the Under Armour advantage is truly undeniable."
Under Armour, known as the originator of moisture-wicking performance apparel worn by athletes on playing fields around the world, brings its expertise in performance apparel to their second team in the SEC. With access to the most technologically advanced apparel on the market, Gamecock players will be able to perform at optimum levels with Under Armour performance apparel and footwear engineered to wick moisture away from the skin, enabling players to feel drier, lighter and more comfortable on field and in the gym. At the 2006 NFL draft, 10 years after introducing a compression t-shirt that created a whole new category of performance apparel, Under Armour launched its first line of performance cleated footwear, CLICK-CLACKTM football cleats. Within weeks, the company surged to a 21% market share in a category traditionally dominated by two veteran players.
The Gamecocks went 8-5 in 2006, including three straight wins to end the season. National championship-winning coach Steve Spurrier became the first coach in South Carolina history to take his team to a bowl game in each of his first two seasons. This year, the Gamecocks will return 17 of 22 starters and will open their 2007 season at home on September 1 against Louisiana-Lafayette.
About Under Armour, Inc.
Under Armour® (NYSE: UA) is a leading developer, marketer, and distributor of branded performance apparel, footwear, and accessories. The brand's moisture-wicking synthetic fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional natural fiber products. The company's products are sold worldwide and worn by professional football, baseball, and soccer players, as well as athletes in major collegiate and Olympic sports. The Under Armour global headquarters is in Baltimore, Maryland, and there are UA offices in Denver, Amsterdam, Hong Kong, and Toronto. For further information, please visit the Company's website at www.underarmour.com.
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