Auburn's 10-year apparel deal with Under Armour that included $10 million in UA shares has lost more than 75 percent of its value in only two years.

At the time of the deal announced in Oct. 2015, Under Armour shares were trading for more than $100 a share. After another disastrous earnings report released on Oct. 31, Under Armour shares took another big tumble. Even factoring in Under Armour's stock split in April 2016, that's a significant loss of value for Auburn. The value of Auburn's UA stock is down to a little less than $2.3 million, according to AL.com estimates, after the initial $10 million in shares it received in 2015.

Under Armour missed its third-quarter sales estimate and CEO Kevin Plank told investors he expected a continued difficult sales environment in North America well into 2018.

"Under Armour is not so broken that it cannot be fixed," GlobalData Retail Managing Director Neil Saunders wrote in a note to clients. "But the days of glory, when it would post double-digit uplifts in sales, are over."

Under Armour's two stocks were trading for $11.87 (UAA) and $10.79 (UA) Thursday afternoon.

When AL.com's James Crepea asked Auburn athletic director Jay Jacobs about Under Armour's stock drop in Feb. 2017 -- the stock was trading at $20.67 a share then -- Jacobs had an optimistic outlook on the situation.

"It's a 10-year deal so I'm not real concerned about it," Jacobs told AL.com. "We're not using it for our budgeting. It was just a great way for Under Armour to step up and do more for us and we appreciate it. So we look forward to the day that we cash in because even though it's half (of what it was worth), it's more than we had."

Auburn's Under Armour deal, valued at the time at $78.1 million, runs through June 2025. The deal also provided $22.5 million in cash, product allotment for each sport and an increased royalty for retail sales.

John Talty is the college sports editor for Alabama Media Group. Follow him on Twitter @JTalty.