It's not a great letterform, but as a small logo--particularly an apparel logo, it's okay.
A block Y is one the the best anthropomorphic letterforms to work with as a rally/cheer letter. Tall & straight, with arms out-stretched. The Oval-TimesRoman-hybrid Y deprives it of some of it's strongest features in that regard.
But to each his own, I guess.
mutu.