Under Armour terminates $280 million deal with UCLA

Under Armour Inc. is trying to get out of the record-breaking $280 million sponsorship deal it signed with UCLA in 2016. The decision to terminate the 15-year agreement comes as Baltimore-based Under Armour has been looking to cut costs after suffering a significant financial hit due to the Covid-19 pandemic and several years of declining sales in North America. "Under Armour has recently made the difficult decision to discontinue our partnership with UCLA, as we have been paying for marketing…