Plank said that specified performance-based revenue targets would trigger clauses to continually extend Curry's contract, saying it has the potential to be a lifetime deal. Last fall, as negotiations on the new deal began in earnest, Rolling Stone speculated that it could be a lifetime deal worth in excess of a Dr. Evil-esque ONE BILLION DOLLARS. Steph Curry. Steph Curry's Under Armour Deal: How Much Does the Golden State We are excited to keep building together, bringing even more innovation and inspiration to athletes across the globe," said Plank, who's now the company's executive chairman and brand chief. We share a vision for a big future ahead, said Curry.https://t.co/hTb5bU60Kk. Play. He wore the shoes growing up, sported the swoosh at Davidson. Famed Nike power broker and LeBron James adviser Lynn Merritt was not present, a possible indication of the priority -- or lack thereof -- that Nike was placing on the meeting.. Curry broke his own record for three-pointers in a season, and he sat out 17 fourth quarters throughout the season due to Golden States wide margin of victory. "In 2013, we bet on each other, and I'm all in on taking this next step together.". Sure, the company was doing nearly $2 billion in annual revenue at the time of the deal. Stephen is one of the greatest talents of our generation. "We're going to have an investment in the roster of athletes -- men and women, from various sports -- that want to be a part of the UA and Curry Brand family. In this next phase of the partnership, Under Armour and Stephen will elevate this commitment across new and existing categoriesfrom basketball to golf, women, youth, and sportstyledelivering product solutions that help athletes perform at the highest level. The growth potential of the stock awarded and expected annual compensation could see Curry earn more from the Under Armour extension than from his NBA contracts, which will total more than $473 million through the 2025-26 season. "I believe in Under Armour and Curry Brand, the team now in place, and what we're doing together. "I do have a lot left to accomplish on the court, however long I am playing. This season, Curry became the ninth player in league history to have a signature sneaker series reach a 10th consecutive model. If you are not already a subscriber, sign up and join 100,000+ others who receive it directly in their inbox each week. We share a vision for a big future ahead. One of the best things about Stephen that makes this deal so easy is that he truly is a better person than he is a basketball player. However, Curry got an equity stake in the multi-billion dollar company. This site requires JavaScript to run correctly. Although exact terms were not disclosed, the new agreement could be one of the richest-ever endorsement deals in sports once annual base pay, stock equity, royalties on signature products and on-court incentive bonuses are tallied. About 20% of the NBA currently has a cash shoe deal. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. That sounds ancient, but people started getting noticed because we were everywhere. But the company was never sure about Steph's popularity at the time. I am beyond excited to be joining Under Armour at this pivotal time, especially with the heat and influence that Stephen will bring for us. Mandatory Credit: Jerome Miron-USA TODAY Sports. 1 spot as the favorite apparel brand among teens for a decade, according toPiper Sandler's biannual survey. Peterson. The partnership includes funding for community impact efforts to create opportunity, access and equity for the next generation of athletes. Under Armour announced the official launch of the Curry Brand with NBA star Stephen Curry. Basically, Under Armour used to be the Chris Cohan Golden State Warriors, and thanks to Steph, theyre the Joe Lacob Golden State Warriors. We are excited to keep building together, bringing even more innovation and inspiration to athletes across the globe., Kevin Plank, Executive Chair & Brand Chief, Under Armour. And we're so excited to see one of our athletes being so involved in the product," he said. In his breakout 54-point game at Madison Square Garden on Feb. 28, 2013, he was wearing Nike Zoom Hyperfuse, a pair of sneakers he still owns, tucked away in his East Bay Area home, shielded from the light of day., The August meeting took place on the second floor of the Oakland Marriott, three levels below Golden State's practice facility, Strauss, for ESPN. His signature shoe, The Curry One, did $153 million in sales over just three months, and Under Armours entire footwear business saw a 350% increase in sales year-over-year. Now, a fight to bring them back. Curry, who plays point guard for the Golden State Warriors, signed with Under Armour in 2013. So vault and list your items on Goldin's Marketplace now to enjoy this limited-time offer. 3, 2016 in Guangzhou, China. Steph Curry To Ink Lifetime Contract With Under Armour Worth - Forbes For comparison, LeBron James has a lifetime deal with Nike thats estimated to pay him around $30 million annually. That has helped mend their relationship. In fact, due to his size, many expected Curry to struggle. Images/Visual China Group via Getty Images). Said Plank: "It begins with the person. If he signed back with them, we're on that second tier.". Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Steph Curry signs supermax deal with Under Armour - Golden State Of Mind This is a BETA experience. One of the best things about Stephen that makes this deal so easy is that he truly is a better person than he is a basketball player. Warriors star Steph Curry reacts during Game 1 of the Western Conference semifinals of the NBA playoffs against the Memphis Grizzlies at FedExForum on May 1, 2022, in Memphis, Tenn. Curry is slated to receive $75 million in Under Armour stock after extending his partnership with the company. He brought along a fast-paced offense that gave shooters like Stephen Curry and Klay Thompson the ultimate amount of freedom, and the Warriors dominated. Social media wasnt a big thing. Curry has been signed with Under Armour since 2013 By Chris Bengel Dec 1, 2020 at 10:14 am ET 2 min read On Monday, Under Armour announced the launch of the Curry Brand with Golden. While exact terms were not disclosed, the new agreement could be one of the richest-ever endorsement deals in sports once annual base pay, stock equity, royalties on signature products and on-court incentive bonuses are tallied together. The Golden State Warriors' Steph Curry wears Under Armour basketball shoes during a game against the Boston Celticsat Chase Center on Dec. 10, 2022, in San Francisco. "I took a chance on trying to partner with them," Curry said. Under Armour and Stephen Curry became a team in 2013. According to Sullivan, there was significant friction between Curry and Under Armour founder Kevin Plank. Gambling Problem? Under Armour also paid $9 million to the SEC for disclosure failures. Curry will be tasked with helping drive athlete insights, product development, and strategic business and marketing endeavors. Curry had paper-like ankles and had already missed a significant number of games. But the company was never sure about Stephs popularity at the time. On behalf of Boot Hill Casino & resort (KS). Its brand is typically associated with high performance traits, for intense activities, but shoppers have mostly been seeking out fashion when they shop for activewear, boosting Lululemon and Gap's Athleta. Under Armour announced Monday the launch of the Curry Brand with NBA star Stephen Curry, a long-time Under Armour athlete, in a bid to reach younger consumers and compete with Nike and its Jordan Brand. Curry's the only athlete in Under Armour history to do so. - Stephen Curry, 4x NBA Champion GoodSports Creating equitable access to sports for kids through donations of equipment, apparel, and footwear. Of the NBA's 22 current signature shoe lines, the Curry series is one of the top five highest-grossing signature businesses annually. ", Said Plank: "Why equity was such an important part of this is that Curry Brand and Under Armour are meant to help each other equally throughout this. Coming into the league, Steph Curry was not touted to become the mega star that he is today. He was gaining more than 1 million Instagram followers every month during the season. While the deal is not explicitly a lifetime contract, Under Armours founder, Kevin Plank, stated that the deal would automatically extend based on sales hitting certain revenue targets, which seems fairly plausible. Because the company signed a young player more known for his bench celebrations than his on-court play, Kent Bazemore. He could have gone with other big names, such as Adidas or Puma; however, Stephen Curry decided to sign with Under Armour the same year. Curry didnt like how the company was promoting the shoes, and he definitely didnt like that Plank was supporting Donald Trump. The agreement designated her as a Curry Brand ambassador and provides the 20-year-old with on- and off-court mentorship from Curry. The brand, which was started by Kevin Plank in 2005, has struggled to gain market share versus Nike and Adidas in recent years. This season, Curry became the ninth player in league history to have a signature sneaker series reach a 10th consecutive model. "We started with the signature business, and with the opportunity to deepen the partnership, with an expectation of it going past my playing days and the added investment in the great things that we both bring to the table, it's an exciting time to strengthen that partnership," said Curry, who is currently on his 10th signature sneaker with Under Armour. ", Said Curry: "A lot of work goes into what we do daily and thinking about how we can make it even bigger and broader. Oops. NBA superstar Steph Curry and Under Armour are once again betting big on each other. Curry originally signed with Under Armour in 2013, before hed won any championships or MVP awards, and launched the Curry Brand in 2020 similar to Nike and Michael Jordans Jordan Brand. Over the course of their partnership, Curry and Under Armour have launched 10 signature shoes together. I'm just proud that we've gotten to this point. For his signature sneaker line with Under Armour, Curry has released numerous sneaker models that reflect his dynamic style of play and personal narrative.For the latest drop, the Curry 1 Low Flotro looks back to when it all started at the 2009 NBA Draft. He was gaining more than 1 million Instagram followers every month during the season. NBA MVP Straw Poll: Just when you thought this race couldn't get any closer NBA play-in tournament 2023: Schedule, projections, standings. DALLAS, TEXAS - MAY 22: Stephen Curry #30 of the Golden State Warriors reacts to a play during the [+] second quarter against the Dallas Mavericks in Game Three of the 2022 NBA Playoffs Western Conference Finals at American Airlines Center on May 22, 2022 in Dallas, Texas. Curry, who led the Golden State Warriors to a fourth NBA title last year, recently received his undergraduate degree from Davidson University after taking online classes to finish his degree. "There's always been a continuation [in mind] with Stephen," Under Armour founder Kevin Plank said. At his core, he embodies what it means to be an Under Armour athlete and is an integral part of the Under Armour family. But, setting the record for most three-pointers was not enough for Nike. That sounds ancient, but people started getting noticed because we were everywhere. Now, its important to remember that Under Armour was essentially irrelevant in basketball when they signed Stephen Curry. The banner could be for Under Armour what the Jordan Brand is for Nike. Golden State Warriors guard Stephen Curry (30) celebrates after a basket against the Portland Trail Blazers during the fourth quarter for a career-high 62 point game for Curry at Chase Center. There are exclusive interviews with people like Dana White, Lance Armstrong, and Troy Aikman, and youre guaranteed to learn something new. Get this delivered to your inbox, and more info about our products and services. But they owned just 0.35 percent market share in the U.S. basketball retail market, and their most prominent endorsers were Brandon Jennings, Kemba Walker, Raymond Felton, and Greivis Vasques. "We started with the signature business, and with the opportunity to deepen the partnership, with an expectation of it going past my playing days and the added investment in the great things that we both bring to the table, it's an exciting time to strengthen that partnership," said Curry, who is on his 10th signature sneaker with Under Armour. This is important because when Stephen Curry was drafted by the Golden State Warriors, he signed a cash deal with Nike. New 1 Color Men's Curry Golf Adjustable Cap $40.00 New 2 Colors Men's UA Charged Curry Spikeless Golf Shoes $150.00 New 1 Color 2023 CNBC LLC. So the fact Steph took the nation by storm, it was newspaper articles, people texting, people calling and leaving voice messages, sending emails. All Rights Reserved. Similar to Nike's lifetime deals with Michael Jordan and LeBron James, Under Armour is banking on their biggest basketball star to be involved in all aspects of his brand even after his playing days. Nike was stingy with their gear while Bazemore got so much UA gear he claims I didnt wash clothes for like two months.. The real story involves a rare misstep in negotiations by Nike, the birth of a generational athlete, and a lifetime deal that could be worth more than $500 million. LeBron James Nike Deal: How Much Does the Los Angeles Lakers Star Make From It? Thats the best part about it.. Of the NBA's 22 current signature shoe lines, the Curry series is one of the top five highest-grossing signature businesses annually. Steph Curry is poised to sign a a lifetime contract with Under Armour worth "potentially more than $1 billion," according to a report from Rolling Stone.