(L-R) US ski champion Lindsey Vonn, Phillies baseball player Bryce Harper, CEO Of Under Armour Patrik Frisk, champion sprinter Natasha Hastings and former record-winning US Olympian swimmer Michael Phelps stand on stage at the 2020 Under Armour Human Performance Summit on January 14, 2020 in Baltimore, Maryland.
Olivier Douliery | AFP | Getty Images
Under Armour’s cost-cutting is being felt by even its biggest athletes. After first-quarter sales plummeted 23%, the apparel maker said the company is negotiating sports marketing contracts to defer payment with some of its athletes.
“We’ve been negotiating and working with them and we’ve been able to get some extended payment terms there, which…