Cal signs 10-year, $86-million sponsorship deal with Under Armour

UC Berkeley is one of the world’s top universities and a standard bearer for academic excellence and athletic achievement, Kevin Plank, Under Armour’s founder and CEO, said in a news release.

In addition to supplying the Cal athletics gear, Under Armour will provide student internships, employment opportunities for Berkeley graduates, charitable partnerships and exclusive product discounts for campus departments.

“Under Armour’s vision mirrors our university’s emphasis on innovation, research and entrepreneurship, and this agreement will offer opportunities for students to advance their ideas through a variety of programs,” athletic director Mike Williams said.

The Under Armour contract will reportedly put the Bears among the top-10 nationally in sponsorship deals, just behind elite athletic departments like Ohio State and Kansas.

The Chronicle reported in February that the university was facing a projected budget deficit this year of $150 million.

In a statement sent at the time to faculty, staff and students, Cal Chancellor Nicholas Dirks called for re-examining athletic department spending in hopes “to reduce administrative costs and other team expenses.”

The overall athletics deficit is in the $17 million to $20 million range, according to a source with knowledge of the budget who requested anonymity, lacking authority to speak on the matter.

“Going well beyond a typical apparel contract, this relationship will extend across the entire campus, reinforcing our commitment to a strong, sustainable intercollegiate athletics program,” Dirks said.

Cal’s Under Armour deal comes two days after former Bears quarterback Jared Goff, the possible No. 1 pick in the upcoming NFL draft, signed with Nike.