The Baltimore company is focusing its efforts elsewhere.
Sports apparel company Under Armour is getting out of the marathon-sponsorship business. According to CBS Baltimore, Baltimore Marathon race organizers confirmed that Under Armour had decided months ago that it would stop sponsoring the event.
However, despite the loss of revenue, organizers maintain that the marathon will still proceed on Oct. 12.
Under Armour has spent millions on the race in the past 10 years and just last year, it paid $500,000 to be the race’s title sponsor.
Lee Corrigan, president of Corrigan Sports Enterprises, the company that organizes the race, says that the Baltimore-based company is taking its funding elsewhere in the community. Last fall, it donated money to build the Dunbar High School football field.
Corrigan admits that the loss of Under Armour will be a significant financial hit, but that the annual race won’t lose money.