Under Armour Inc signed a 10-year contract with Major League Baseball to be its official uniform supplier, the sportswear maker's first such deal with a professional league.

The company will become the exclusive provider of all on-field uniform components including jerseys, game-day outerwear and year-round training apparel for all 30 MLB clubs beginning in the 2020 MLB season, replacing Majestic Athletic.

"This is a watershed moment for the Under Armour brand," Chief Executive Kevin Plank said in a statement.

The terms of the deal were not disclosed.

The No. 2 U.S. sportswear maker has sponsorship contracts with nearly 400 athletes in the league, most notably 2015 National League MVP Bryce Harper.It has partnered with the MLB previously, becoming the official baselayer supplier to MLB in 2000 and its performance footwear partner in 2011.

Under Armour's deals with other professional leagues include outfitting NFL players with its workout gear at the NFL Combine each year since 2009.Fanatics, the largest online seller of sports merchandise in the United States, will be granted rights to produce and sell customized Under Armour and Fanatics merchandise at retail.Under Armour's shares rose 2.36 percent to $30.72 in early trading on Monday.

 

Source:reuters.com

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