Under Armour Inks Deal with National Lacrosse League
The National Lacrosse League recently renewed its sponsorship deal with Team 22, the manufacturer of Under Armour lacrosse gear, for another three years as the league continues to team with corporate partners to try to grow its revenues, and the sport, in the U.S.
As part of the deal, Under Armour will supply equipment and gear for players, which will ease some of the 34-year-old league’s financial burden. The deal also provides a mix of cash and investment, league officials told CNBC, declining to provide full details.
The deal follows two other corporate partnerships announced earlier this month with Wilson Sporting Goods and Warrior, which is owned by New Balance. Like the Under Armour deal, the Wilson and Warrior deals will provide a mix of cash, products and marketing.
“Our elite lacrosse players will continue to have top-notch equipment at their fingertips as a result of this partnership with world-class companies Team 22 and Under Armour,” Kevin Morgan, the league’s executive VP and chief revenue officer, said in a statement. Under Armour became the league’s supplier of apparel, footwear and equipment in 2013.
The NLL also has deals with insurer Geico and Michelob Brewing Company, and it joined forces with AT&T-owned Turner Sports to continue growing the league’s digital presence.