Under Armour just signed a deal with UCLA that will pay the university $280 million over the next 15 years — an industry record. In a tweet, the athletic wear company referred to the agreement as the merging of two great brands.
As Business of Fashion reports, big deals between shoe companies and universities are nothing new.
Ohio State earlier this year signed a 15-year, $252 million deal with Nike and Texas' agreement with Nike is worth $250 million. Michigan's new deal with Nike could be worth up to $173 million…
So how do we tackle America's higher education funding crisis? The answer seems to be to just nab enormous contracts with shoe brands. ES