The University of South Carolina has approved a second consecutive apparel contract with Under Amour, and this one is much more lucrative for the Gamecocks.
The school’s Board of Trustees agreed Friday to a 10-year deal worth a total of $71.5 million. It is the second-most valuable in the SEC and seventh-most valuable in the nation, according to school officials.
“I’m very pleased with where we are with Under Armour and the relationship with (CEO) Kevin Plank and his staff,” athletics director Ray Tanner said. “It’s more to me than just a company that we partner with. We have been with them quite a while and he and his staff feel like part of our family.”
South Carolina’s previous deal with the Under Armour was for six years at a total of $6.2 million. That deal expires at the end of June. The new deal breaks down into $24.5 million in rights fees and $44.5 million in product allowance, plus a $2 million signing bonus.
“Our (football) coaching staff embraced it and encouraged us to move forward with a new deal (with Under Armour),” Tanner said.
South Carolina did not have discussions with any other apparel companies before renewing this deal. The most valuable deal in the country is Under Armour’s deal with Notre Dame, which is worth $90 million over 10 years.
South Carolina and Auburn are the only SEC schools wearing Under Armour apparel. Nike is the apparel leading in the conference with 10 schools.
“To compete in the Southeastern Conference, it takes a tremendous budget to do that,” Tanner said.
The Board also approved a new five-year deal with Collegiate Licensing Company as the exclusive seller of Gamecocks merchandise.