Unrivaled, a new basketball league, is starting to take shape.
The 3×3 women’s basketball league declared on Tuesday that it has inked a multi-year agreement with Under Armour to serve as its official performance outfitter and uniform partner. This comes after the league signed a media broadcast agreement with TNT Sports in October and announced some recent notable player acquisitions.
Although the deal’s financial details were not disclosed, Under Armour will supply performance clothing and accessories for all players, coaches, and staff to wear on and off the court.
Sean Eggert, senior vice president of global sports marketing at Under Armour, stated, “We are extremely excited to collaborate with Unrivaled to provide clothing for some of the world’s top women’s basketball players as they compete on this thrilling new stage.”
According to the shop, Under Armour basketball footwear options will be offered to all athletes who do not currently have an active shoe agreement. Players will also be able to design their own items with Under Armour.
On January 17, Unrivaled will begin its first season in Miami. In the off-season, the league has established itself as a place for WNBA players to play basketball in the United States.
Many WNBA players have had to travel abroad to play during the summer in order to augment their revenue in the past. ESPN reports that the WNBA’s starting pay is $64,154.
36 elite players have registered with Unrivaled thanks to their alluring financial incentives, which include stock. According to the league, its average pay are the highest in the history of women’s professional sports leagues. Several investors are supporting it.
Following founder Kevin Plank’s return to the company’s leadership in March of last year, Baltimore-based Under Armour is currently undergoing a turnaround. Stephanie Linnartz, a former Marriott executive, was fired after less than a year in the position; she was the second CEO the business has had in less than two years.
The company has had difficulty competing and increasing full-price sales in recent years, so it has turned to promotions and the off-price channel to sell its goods.
Linnartz had been working to increase marketing to women and enhance the product line before to her departure, but Plank reversed that approach when he took over and announced that the firm would be focusing more on its men’s clothing division. Later, he unveiled a turnaround strategy that focuses on elevating Under Armour to a premium brand and reducing discounts in order to increase demand and profitability.
When the firm announced its fiscal second-quarter profits last month, it noticed a bright light. Plank stated that the turnaround is “beginning to gain traction,” and the company raised its year profit prediction. The stock is still down around 81% from its peak on September 17, 2015.
The partnership between Under Armour and Unrivaled provides insight into the company’s investment strategy and may suggest that it intends to concentrate more on female athletes in an effort to leverage the popularity of women’s sports and revitalize the brand.
Top women’s collegiate programs, including those at the University of South Carolina, Notre Dame, Maryland, and Utah, are presently partners of Under Armour.
