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Under Armour Rings in MLB Deal at NYSE

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Baltimore-based Under Armour celebrated its recently-signed deal with Major League Baseball Wednesday morning by ringing the opening bell at the New York Stock Exchange.

Under Armour founder and CEO Kevin Plank was in attendance to perform the honor, joined by MLB Commissioner Rob Manfred, Cubs chairman Tom Ricketts, and Yankees outfielder and UA-sponsored athlete Aaron Judge.

The 10-year deal will make Under Armour the official uniform provider for MLB starting in 2020. The brand already has relationships with over 400 players in the league, and has been the official performance footwear partner of MLB since 2011.

“The word that comes to my mind is energy,” said Manfred in an interview with MLB.com. “It’s one of the reasons we got into the partnership with Under Armour. We think it’s a young brand, an energetic brand, and we think it’s going to be great for the game.”

Under Armour also revealed a change in the company’s ticker symbols on the NYSE. Under Armour’s class C common stock will now be known as simply “UA,” while its class A common stock ticker will change to “UAA.”

The deal with Under Armour comes at a time when MLB is making greater efforts to expand the game globally, something which Plank said Under Armour will be critical in.

“We are taking a massive swing—forgive the pun—with this one,” said Plank to MLB.com. “Part of the ambition we have for this deal… is taking this game global and what that means. The best way for us to take this game global is truly finding a way for us to bring it back home, and making America love this sport every day of the week, and really allowing baseball to continue to shine in that way.”

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