The Chicago Cubs Major League Baseball club has extended its sponsorship deal with apparel manufacturer Under Armour - and dropped its lawsuit against the company.

The Cubs had taken legal action against under Armour, claiming the company was failing to fulfill its obligations under the terms of its US$10.8 million sponsorship deal. That five-year agreement placed Under Armour branding on the two roll-up stadium doors in left and centre-field. The new arrangement, which sees the contract increase to US$2.5 million per year and also runs for five years, means the company retains those positions as well as placing a new advert behind home plate.

Matt Wszolek, the team's director of sales and promotion, described the Cubs as "glad to have renewed Under Armour's sponsorship". The company are the only one to advertise on the Cubs' outfield wall. "We greatly appreciate the Cubs' history and look forward to a long-term partnership," said Under Armour vice president Steve Battista.

The Chicago Cubs are owned by Tribune Co, the Chicago-based media company. Tribune plans to sell the team for US$900 million to the Ricketts family.