Under Armour replaces Nike as Cal provider

12:36 PM ET

The University of California-Berkeley and Under Armour have agreed to a 10-year deal that will begin with the 2017-18 school year.

Sources say the deal is worth almost $86 million in cash and product. It includes a $3 million signing bonus, $3.5 million in cash per year and an average annual product allowance of $4.76 million.

The new pact is a massive increase from what Nike was paying the Golden Bears. In the final year of its Nike deal, Cal will receive $2 million in product and $150,000 in cash. Its cash intake will increase more than 2,000 percent in 2017-18.

Cal signed what might be considered the most comprehensive deal in the entire college landscape. By involving the whole campus in negotiations, athletic director Mike Williams was able to offer Under Armour assets that haven’t been available in other partnerships.

This deal, for example, will include outfitting the school’s 34 official club sport teams in the brand. It will also guarantee a discount on Under Armour’s connected fitness bundle, UA HealthBox, to Cal’s faculty and student body and make Cal the home for Under Armour’s entrepreneurial contest Future Show.

“We’re thrilled to have found a partner that is as excited about what makes Cal Cal as we are,” Williams said. “We share Under Armour’s vision on innovation, and it’s apparent we have the same work ethic.”

Under Armour CEO Kevin Plank said the company is …

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