Dear Terps,

Today, we are proud to announce the next great era in Maryland Athletics' partnership with Under Armour. We have extended our agreement for an additional 12 years through 2036. The continuation of this partnership reinforces our commitment to championing all athletes, reaffirms Maryland's significance to Under Armour's heritage, and demonstrates the desire to bring this partnership into the next chapter of the brand's story.

The new agreement places Maryland in the top echelon of collegiate apparel agreements, and includes new NIL opportunities for student-athletes, support for the University's club and intramural sports, and a collaborative marketing fund to activate this partnership in new and innovative ways.

From the time a young football player named Kevin Plank stepped foot on the University of Maryland campus, Maryland Athletics and Under Armour have shared roots that run deep and wide. We are so proud to be part of the Under Armour family.

In more off-season business news, the five power conferences and the NCAA officially agreed to move forward with a multibillion-dollar settlement with three pending federal antitrust cases, notably including House vs. NCAA. This settlement, upon ratification by the presiding judges, would pave the way to allow schools to share a percentage of revenue with student-athletes for the first time -- up to approximately $21 million per year.

Along with our peer conferences and Charlie Baker, NCAA president, we released the following statement:

"The five autonomy conferences and the NCAA agreeing to settlement terms is an important step in the continuing reform of college sports that will provide benefits to student-athletes and provide clarity in college athletics across all divisions for years to come." 

This settlement represents progress in addressing the major antitrust challenges that have plagued college athletics. If and when this is formally approved by the courts, we will be allowed to provide additional benefits to our student-athletes, while preserving the core academic foundation that makes college athletics so special.

Many questions need answers and much work remains, including the establishment of appropriate governance and sustainable, enforceable rules, but I believe this settlement is a critical first step in our attempts to preserve and strengthen college sports.

As the model of intercollegiate athletics transforms, we must keep pace. Growing the support from new and current fans is paramount. To that end, we are investing in new fan amenities throughout our venues, building new training facilities for our student-athletes, and examining our department's structure and strategy to ensure that Maryland will continue to lead boldly.

As always, I want to thank you for your continued support. Whether you are a season ticket holder, a Terrapin Club member, or a supporter of the One Maryland Collective, your generosity and loyalty are crucial to our future, now more than ever. 
Thanks again for everything you do.

To Victory! Damon Evans
Barry P. Gossett Director of Athletics
University of Maryland