Shortly after news broke that Under Armour is seeking to terminate its $280 million deal with UCLA, adult webcam company CamSoda has now made its bid to become the school’s new official athletics partner.
“In light of this, I’d like to formally extend a $205 million, 10-year contract offer to have CamSoda, a leading adult entertainment webcam company, to become the new official partner of UCLA Athletics,” CamSoda Vice President Daryn Parker said in a statement. The notice from Parker goes on to outline the company’s passion for all sports and interest in being affiliated with UCLA, “one of college sports blue blood programs.”
According to the Los Angeles Times, Under Armour has decided to terminate its 15-year, $280 million USD contract with UCLA due to “paying for marketing benefits that we have not received for an extended period of time.” The contract apparently ensures UCLA $15 million USD upfront with $11 million paid every year for rights and marketing fees. On top of that, the sportswear brand supplies the school with around $7.4 million USD worth of clothing, shoes and equipment each year, along with $2 million USD over eight years for athletic facility upgrades.
UCLA is believed to be looking to keep the Under Armour deal going, as the school’s athletic department saw a near $19 million USD deficit last year, which was covered by an interest-bearing loan.