Under Armour (UA) signed Muhammad Ali to a deal.
The sponsorship gives the company the freedom to create a line of products inspired by the boxer. Under Armour inked the deal with Authentic Brands Group (ABG), which owns Ali’s estate and licensing rights.
“He’s an iconic hero from the past and a true innovator,” said Under Armour exec Glenn Silbert. The company is kicking off the partnership with a graphic T-shirt Wednesday.
Under Armour will follow this up with a lifestyle apparel line next month, as well as boxing gear, footwear and other accessories related to Ali.
UA stock is up 1.67% Wednesday.
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