Chicago Cubs, Under Armour in new advertising deal
CHICAGO, April 1 (Reuters) - The Chicago Cubs baseball team and athletic apparel maker Under Armour Inc (UA.N) have reached a deal for the company to continue as the only advertiser on the outfield wall at Wrigley Field, the Cubs' home park. In addition, the Cubs dropped a lawsuit filed against Under Armour in January related to advertising.
No terms were announced in this week's settlement statement other than the partnership is a multimillion-dollar, multiyear deal. In addition to its logo on Wrigley's ivy-covered outfield wall, the apparel maker has advertising rights for signage behind home plate.
In court documents filed in January, the Cubs said Under Armour was under contract to pay the Cubs more than $2 million a season from 2009 through 2013 to advertise at the stadium and use the Cubs logo.
"We are very pleased to continue our relationship and resolve this issue with the Chicago Cubs management," Steve Battista, Under Armour's senior vice president of brand, said in the statement.
(Reporting by Bob Burgdorfer; editing by John Wallace)
((bob.burgdorfer@thomsonreuters.com ; +1 312 408 8723; Reuters Messaging: bob.burgdorfer.reuters.com@reuters.net)) Keywords: CUBS UNDERARMOUR/
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