The interior of an Under Armor store is seen on November 3, 2021 in Houston, Texas.
Brandon Bell | Getty Images
The pieces are coming together for the startup basketball league Unrivaled.
The 3×3 women's hoop competition announced on Tuesday that it had signed a multi-year contract Under armor to become the official uniform partner and performance outfitter. This follows the league's announcement of a number of recent major player signings and reaching a media broadcast deal in October with TNT Sports.
Financial terms of the deal were not disclosed, but Under Armor will provide all players, coaches and staff with performance apparel and accessories both on and off the field.
“We couldn't be more excited to partner with Unrivaled to equip some of the best women's basketball players in the world as they compete on this exciting new stage,” said Sean Eggert, Under Armour's Senior Vice President of Global Sports Marketing.
The retailer said all players who don't have an active shoe deal will have Under Armor basketball shoes available. Additionally, Under Armor gives players the ability to create custom products.
Breanna Stewart #30 of the New York Liberty dribbles the ball during the game against the Indiana Fever on May 16, 2024 at Gainbridge Fieldhouse in Indianapolis, Indiana.
Nathaniel S. Butler | National Basketball Association | Getty Images
Unrivaled begins its inaugural season on January 17 in Miami. The league has positioned itself as a destination for WNBA stars to play basketball in the US during the offseason.
In the past, many WNBA players had to go abroad to play in the offseason as a way to supplement income. The starting salary in the WNBA is $64,154, according to ESPN.
Unrivaled has signed 36 top players by offering attractive financial incentives, including equity. The league said it offers the highest average salaries in the history of women's professional sports league. It is backed by a number of investors.
This latest deal comes as Baltimore-based Under Armor is in the midst of a turnaround after founder Kevin Plank took the helm again last March. Former Marriot director Stephanie Linnartz served in this role for just a year before she was ousted; she was the company's second CEO in less than two years.
In recent years, the brand has struggled to keep up with competition and drive full-price sales, relying on promotions and the off-price channel to move its products.
Before she left, Linnartz had tried to market to more women and improve product offerings, but when Plank took over again, he abandoned that strategy and said the company would double its men's clothing business. He later announced a turnaround plan aimed at making Under Armor a premium brand and cutting discounts so it can improve profits and boost demand.
Last month, the company saw a bright spot when reporting fiscal second-quarter earnings. It raised its annual earnings forecast and Plank said the turnaround is “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 and perhaps signals that it wants to focus more on female athletes as it looks to capitalize on the hype of women's sports to reinvigorate the brand.
Under Armor currently has partnerships with top women's universities such as the University of South Carolina, Notre Dame, Maryland and Utah.
“As a brand, we have a long history of investing in women's basketball from the grassroots level all the way up to the pros,” Eggert said.
