U.S. Markets closed

Nike, not Under Armour, to get MLB uniform deal

Terry Lefton
American City Business Journals
Nike, not Under Armour, to get MLB uniform deal

Nike Inc. is close to completing a deal for Major League Baseball’s on-field apparel rights, a contract originally awarded to Under Armour Inc. in 2016. The swoosh will appear on MLB jerseys starting with the 2020 season, with Nike getting on-field exposure and Fanatics delivering the retail versions of the apparel, including jerseys.  An industry source said that by not doing the deal, Baltimore-based Under Armour will save around $50 million at a time when the brand's growth has slowed and its market cap shrunk dramatically. By shedding the MLB deal, Under Armour (NYSE: UAA) can reduce overhead at a time when that looks to be paramount.