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Under Armour to pay UCLA $67.5M in settlement of termination of apparel sponsorship deal

UCLA will receive about $67.5 million from Under Armour as part of a settlement to resolve the school's lawsuit against the apparel company for terminating a record apparel sponsorship deal, according to a document obtained by ESPN.

On May 26, the two sides agreed to the settlement, which required Under Armour to pay UCLA $67,491,275, and absolves both parties of any liability. In June 2020, Under Armour informed UCLA that it intended to terminate a 15-year, $280 million deal to be the school's apparel sponsor, citing "marketing benefits" that UCLA had not provided "for an extended time period.