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U.S. Speedskating, Under Armour Extend Partnership Through 2022

<p>Suit controversy aside, the two sides have extended their partnership for eight years.</p>
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U.S. Olympic speedskaters will be zipping up in Under Armour gear for the next two Winter Games, despite a public dust up over Under Armour's suits after many of the team's top athletes failed to medal in Sochi.

Under Armour and U.S. Speedskating announced Friday an eight-year extension of their partnership, renewing a contract set to expire this year, under which Under Armour will remain the National Team's exclusive competition suit provider.

U.S. speedskaters had been heavily favored coming into the Sochi Winter Olympics. But they have failed to win any medals, with some of the athletes fretting that the new high-tech "Mach 39" suits developed by Under Armour and aerospace giant Lockheed Martin could have been a factor.

Under Armour got unfairly beaten up over its speedskating suit controversy, Chairman and CEO Kevin Plank told CNBC on Friday.

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In a statement Tuesday, U.S. Olympic Committee CEO Scott Blackmun said, "We do not believe the suits were the problem."