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

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.

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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.

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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.

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