NIKE (not UnderArmour) to MLB in 2020

Sports Business Daily reported that Nike, not Under Armour, will be the official on-field uniform and apparel provider of MLB come 2020. Back in December 2016, Under Armour announced it had made a 10-year commitment to replace Majestic Athletic (since acquired by Fanatics) as the league’s supplier of game-day outerwear, base layer undershirts and year-round training apparel. It now appears they’ve asked out of the deal, looking to reduce overhead amidst declining U.S. sales (down -1% in Q1 ‘18, forecasting a mid single digit net revenue decline in ‘18); a decision that will save the company +/- $50 million. Fanatics, which acquired the rights to make and sell fan gear at retail as part of UAA’s 10-year pact, is expected to retain those rights; the company announced a similar product licensing agreement with the NFL earlier this week.

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