Under Armour is seeking to terminate its record-breaking $280 million contract with UCLA just three years into their 15-year deal, an unprecedented move that speaks to the state of Bruins athletics — and says even more about the state of Under Armour.
Why it matters: Once heralded as the next Nike, Under Armour has seen its sales — and its stock price — plummet over the last four years, leading some to believe the company's best days are behind it. Terminating a historic deal only adds to the "struggling brand" narrative.
