Sunday, March 1st-3.0°C
25327
24506

Under Armour signs 8-year deal with US speedskating despite flap over outfits

NEW YORK, N.Y. - Athletic gear maker Under Armour has signed an eight-year deal with U.S. Speedskating to provide uniforms despite controversy over the suit it provided the team at the Sochi Olympics.

Under Armour spent years developing a new speedskating suit that debuted during the Olympics but flopped. U.S. speedskaters, including favourite Shani Davis, didn't medal, and some blamed the suit. The team reverted to an older Under Armour suit, but results have not yet improved.

Under Armour Inc. said Friday it is ready to try again. The Baltimore-based company will outfit the U.S. speedskating team for the next two Winter Olympics, beginning with South Korea in 2018.

"It's good under the circumstances that Under Armour still believes in the U.S. as a team and they're willing to work with us," Davis said. "It's nice of them to do that."

Company CEO and founder Kevin Plank said in an interview with CNBC that Under Armour was "doubling down" and hoped to move past the Sochi controversy.

Financial terms were undisclosed. In the interview, Plank said the current contract expires in a month so the timing was right for a new deal.

"We get knocked down, we dust ourselves off and we come back bigger, better and stronger than we ever were before," he said. "We don't want this story going longer."

Plank added that when the U.S. speedskating team performed below expectations, there were only "so many variables," to explain the disappointment, and the new suit was one possibility. He added that Under Armour athletes have won 10 medals at the Olympics.

In addition to U.S. speedskating, Under Armour has exclusive uniform agreements with the U.S. bobsled and skeleton teams, U.S. gymnastics and the Canadian snowboarding team.

Under Armour shares rose $2.18, or 2 per cent, to $109.37 in morning trading. The stock is up more than 22 per cent so far this year.

The Canadian Press


Read more Business News

25320


Recent Trending




Today's Market
S&P TSX15234.34-6.82
S&P CDNX706.73+5.80
DJIA18132.70-81.72
Nasdaq4963.528-24.362
S&P 5002104.50-6.24
CDN Dollar0.7996+0.0004
Gold1203.00+6.10
Oil52.14+1.53
Lumber297.20+1.20
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.12+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.03
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.035-0.005
Russel Metals25.38+0.08
Copper Mountain Mining1.30+0.04
Colorado Resources0.15+0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.235+0.025

 



24696

FEATURED Property
2197309351 Stellar Drive
3 bedrooms 5 baths
$1,195,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


25107