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The Morning Stake | 2020.07.02

The Morning Stake
Seth C

The Morning Stake | 2020.07.02

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Day 2 of not sleeping in my own bed and everything is fine. Just fine. Actually, it is great because I get to spend time with my parents. I think I’ve got one more night to stay away and maybe back to normal next week.

Avalanche-Journal’s Don Williams has a deep dive into the Texas Tech and Under Armour deal in light of Under Armour’s termination of their contracts with UCLA and Cal. Williams has details into the deal between Texas Tech and UCLA:

Tech’s new contract, provided by the university to A-J Media on Wednesday, is for four years and $12.9 million guaranteed. Tech also is due to receive a 16-percent royalty on its net sales of Under Armour-branded merchandise and a little more than $500,000 in potential bonuses based on the performance of its teams over the life of the contract, which started Tuesday and runs through June 30, 2024.

/snip/

The new contract guarantees Tech $3.225 million annually. The breakdown is $2.8 million in product supplied by Under Armour, $300,000 in rights fees and $125,000 in marketing support.

The potential bonuses include payments of $10,000 each for Tech men’s and women’s basketball teams playing NCAA tournament games and the baseball team making the College World Series.

Under Armour also agrees to pay Tech bonuses of $50,000 for a College Football Playoff appearance, $150,000 for a national championship in football; $100,000 for national titles in men’s or women’s basketball and $75,000 for a CWS championship.

A couple of additional items: 1) Under Armour had the right to match every offer and that Texas Tech talked with Nike and Adidas; 2) I think the 16% increase on the royalty for net sales for Texas Tech is significant I would guess. That could be a significant amount.

Williams also talked with Associate AD Robert Giovannetti, and I think he has to be careful about what he says because you don’t want to get into the implication that Texas Tech had knowledge of Under Armour’s future terminations. Giovannetti also agrees that Texas Tech isn’t in a great position right now due to timing (which is out of Texas Tech’s control), but the shorter term deal gives Texas Tech the opportunity to re-visit the deal in 4 years.

Here are some tweets.

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