Report: Nike to land MLB apparel rights, Under Armour backs out

Under Armour won't be making uniforms for Major League Baseball after all.

In April, the sports apparel company reportedly had a deal to become the official supplier for uniforms pushed back to 2020. Now the company has backed out of the arrangement altogether.

Instead, Nike is close to a deal that will see them have on-field apparel rights starting in 2020, an industry source told Terry Lefton of SportsBusiness Daily.

Under Armour has gone through financial issues recently and is looking to save money. That's why the decision was made to cancel the MLB deal, according to Lefton's source. The two sides originally signed an apparel contract in 2016.

The deal with Nike is reportedly 80 percent done, and will likely be unveiled at the All-Star Game in July.