Under Armour to become title partner for NBA Draft Combine

Reuters News
Posted: Aug 10, 2015 11:00 AM

(Reuters) - Under Armour Inc said it would be the title partner of the National Basketball Association (NBA) Draft Combine as the No. 2 U.S. sportswear maker expands its relationship with the league.

Under Armour, a league partner since 2011, will also be presenting partner of the Jr. NBA, the league's youth basketball program.

The Baltimore-based company will become the outfitter of the NBA Draft Combine, beginning in 2018, as part of a multi-year global partnership.

Under Armour said on Monday it will also develop a retail line of NBA Draft Combine apparel for fans.

The company, one of the fastest-growing sportswear brands in the United States, has been cashing in on the new trend of "athleisure".

The NBA Draft is an annual event in which the 30 NBA teams choose new players for their teams.

Terms of the deal were not disclosed.

Under Armour said it will promote its NBA athletes, such as 2014-15 Kia NBA MVP and 2015 NBA Champion Stephen Curry, in its campaigns, brand advertising and social media channels.

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In June, rival Nike Inc won an eight-year merchandising and marketing contract with the NBA, replacing Adidas as its exclusive apparel provider and making it the first athletic apparel company to have its logo appear on team uniforms.

Under Armour's shares were up 2 percent at $99.92 in early trading on the New York Stock Exchange.

(Reporting by Subrat Patnaik in Bengaluru)