Under Armour founder plans to buy Baltimore water taxis

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BALTIMORE (AP) — From sports apparel to waterways. The founder of Under Armour is looking to acquire the company that runs Baltimore's water taxis.

Media outlets report that Kevin Plank plans to buy Harbor Boating, the city's exclusive water taxi operator since 2005. The company is expected to enter into a 20-year contract with Baltimore on Wednesday.

Plank plans to overhaul the water taxi service with new boats, more stops and longer hours of operation.

He also plans to partner with Uber for an on-demand water taxi service.

Demian Costa, managing partner of Plank's private firm Sagamore Ventures, says the purchase is expected to close in the next 30 days. He says the goal of the Harbor Boating acquisition is to make ferries a better transportation option for the city.

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