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OK. Working on story re: the #Bearcats Under Armour buyout for @TheAthleticCIN. But here are the basics, as I understand it.
UA bought UC out of its sponsorship deal, which was scheduled to run through 2025, for $9.75mil (+ some product allotment). 8 payments thru 04/22.
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UA bought UC out of its sponsorship deal, which was scheduled to run through 2025, for $9.75mil (+ some product allotment). 8 payments thru 04/22.
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UC then entered a separate product supply agreement through 2024. (This is the apparel deal smaller programs often do.) It will essentially allow UC to buy custom #Bearcats branded UA uniforms/gear through an authorized UA dealer: BSN Sports, based in Milford.
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This is same gear #Bearcats had through UA, they just purchase it wholesale through BSN with additional discounts/rebates after certain spending levels. UC already did a lot of this under previous contract too. Most schools do.
Upshot: UC remains a UA school through 2024.
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Upshot: UC remains a UA school through 2024.
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Money from the UA buyout should more than cover the cost of usual uniforms/gear for the #Bearcats athletic dept through the 2024 supply agreement. (Should be some funds leftover, too.)
Why do this? Well, it's not a great time for colleges to be shopping for apparel deals.
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Why do this? Well, it's not a great time for colleges to be shopping for apparel deals.
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The buyout & supply agreement combo with UA allows #Bearcats to maintain apparel status quo through 2024, which is a year earlier than original contract.
And UC can now negotiate for a new apparel deal that will start in 2024, when market is *hopefully* more advantageous.
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And UC can now negotiate for a new apparel deal that will start in 2024, when market is *hopefully* more advantageous.
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Hopefully I explained that correctly and it made sense. But it's more nuanced than that, so, ya know, subscribe to @TheAthleticCIN and read the whole story! (...as soon as I write it.) #Bearcats
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