(Reuters) – Under Armour has informed University of California, Los Angeles (UCLA) that it wants to terminate a $280 million deal that it signed with the school in 2016, the Los Angeles Times reported on Saturday.
“We are exploring all of our options to resist Under Armour’s actions and will share more information as we can. We want to reassure you that UCLA Athletics remains committed to providing our hard-working staff and student-athletes with the footwear, apparel and equipment needed to train and compete at the highest level,” the report said, citing a letter by Dan Guerrero, the school’s outgoing athletic director.
Both Under Armour and UCLA did not immediately respond to a Reuters request for comment.
The athletic apparel maker announced a 15- year partnership with UCLA in 2016.
(Reporting by Juby Babu in Bengaluru; editing by Diane Craft)
