The pieces are coming together for the startup basketball league Unrivaled.<\/p>\n
The 3×3 women\u2019s hoops league announced Tuesday that it has signed a multiyear deal for Under Armour to become its official uniform partner and performance outfitter. This follows the league announcing a number of recent big player signings and reaching a media broadcast deal in October with TNT Sports.<\/p>\n
Financial terms of the deal were not provided, but Under Armour will provide all players, coaches and staff with performance apparel and accessories both on and off the court.<\/p>\n
\u201cWe couldn\u2019t be more thrilled to partner with Unrivaled to outfit some of the best women\u2019s basketball players in the world as they compete on this exciting new stage,\u201d said Sean Eggert, Under Armour senior vice president of global sports marketing.<\/p>\n
The retailer said that all players who do not have an active shoe deal will have Under Armour basketball footwear options available to them. Additionally, Under Armour will give players the opportunity to create custom products.<\/p>\n
Unrivaled will kick off its inaugural season Jan. 17 in Miami. The league has positioned itself as a destination for WNBA stars to play basketball in the U.S. during the offseason.<\/p>\n
In the past, many WNBA players have had to go overseas to play in the offseason as a way to supplement the income. Starting salary in the WNBA is $64,154 according to ESPN.<\/p>\n
Unrivaled has signed 36 top players by offering attractive financial incentives that include equity. The league said it offers the highest average salaries in women\u2019s professional sports league history. It\u2019s being backed by a number of investors.<\/p>\n
This latest deal comes as Baltimore-based Under Armour is in the midst of a turnaround effort after founder Kevin Plank took the helm again this past March. Former Marriott executive Stephanie Linnartz had been in the role for barely a year before she was ousted; she was the second CEO the company had cycled through in less than two years.<\/p>\n
Over the past few years, the brand has struggled to keep up with competition and drive full-price sales, relying on promotions and the off-price channel to move its products.<\/p>\n
Before she left, Linnartz had been trying to market more to women and improve the product offering, but when Plank retook the helm, he walked that strategy back and said the company would be doubling down on its men\u2019s apparel business. He later announced a turnaround plan that centers on making Under Armour a premium brand and pulling back on discounting so it can improve profits and boost demand.<\/p>\n
Last month, the company saw a bright spot when reporting fiscal second-quarter earnings. It lifted its annual profit forecast and Plank said the turnaround is \u201cbeginning to gain traction.\u201d Still, the stock is down about 81% from its all-time high on Sept. 17, 2015.<\/p>\n
Under Armour\u2019s deal with Unrivaled offers a glimpse into where the company is putting its money and, perhaps, indicates it wants to focus more on female athlete as it looks to capitalize on the hype of women\u2019s sports to reenergize the brand.<\/p>\n
Under Armour currently has partnerships with top women\u2019s college programs such as the University of South Carolina, Notre Dame, Maryland and Utah.<\/p>\n
\u201cAs a brand, we have a long history of investing in women\u2019s basketball, from the grassroots level all the way up to the pros,\u201d Eggert said.<\/p>\n<\/p>\n
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