April 14, 2017

UNDER ARMOUR STATEMENT - April 14, 2017

 

The below statement is in regards to reports on Under Armour’s purchase of land from Plank Industries for its new headquarters:

"Kevin Plank never made money on the transaction with Under Armour. In fact, he actually sold the land to the company at a loss. Moreover, this purchase is going to enable the company to develop a headquarters campus that can support the company's long-term growth plans. The company followed a thorough process in reviewing and negotiating the transaction, using independent advisors, including Ernst & Young, with close oversight of the company's Audit Committee to ensure the transaction was fair to the company and free of any potential conflicts."


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