Under Armour (NYSE:UAA) is discontinuing its partnership with UCLA - a 15-year, $280M contract announced in 2016 that was billed as the biggest apparel deal in the history of American collegiate sports.

"We have been paying for marketing benefits that we have not received for an extended time period," the company said in a statement. "The agreement allows us to terminate in such an event and we are exercising that right."

"We are exploring all our options to resist Under Armour's actions," UCLA said in response. "We remain committed to providing our hard-working staff and student-athletes with the footwear, apparel and equipment needed to train and compete at the highest level."

READ FULL ARTICLE HERE