According to ESPN’s Nick DePaula, Steph Curry, the star guard for the Golden State Warriors, made history this week by signing a new long-term contract with Under Armour that would last far beyond his NBA playing days.
The deal includes annual base pay, stock equity, royalties on signature products and on-court incentive bonuses, which together could be one of the most lucrative endorsement deals in sports history, per DePaula.
Curry Brand
“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,” Curry said.
Curry first signed with the brand in 2013 and launched the Curry Brand in 2020. His title will be president of Curry Brand, allowing him additional resources to grow the brand, per DePaula.
“There’s always been a continuation [in mind] with Stephen,” Under Armour founder Kevin Plank said. “I couldn’t imagine Under Armour without Stephen, or Stephen without Under Armour.”
Lucrative Under Armour pact
Curry will make $473 million through the 2025-26 season with the Warriors, and the Under Armour deal could be worth even more. Plank said that the contract has the potential to be a lifetime deal if performance-based revenue targets are hit.
“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. We’re going to build a kick-ass, long-term, foundational brand with Curry,” Plank explained.
Curry signature sneaker series
Curry became the ninth player in NBA history to have a signature sneaker series reach a 10th consecutive model this season, per DePaula. The Curry series is one of the top five highest-grossing signature businesses annually.
“I took a chance on trying to partner with them,” Curry explained. “It sounds crazy, but in 2013 they were still an up-and-coming threat to the sportswear industry and building the basketball category. We’ve been attached at the hip ever since. The good, the bad and the learning lessons of all of it are part of trying to do great things in business.”
It took over a year for the contract to come to fruition after lengthy review of the nuances and clauses, but Steph Curry says he is excited for the future of the Under Armour-Curry Brand collaboration.
“Belief is a big part of who I am on and off the court,” Curry said. “I believe in Under Armour and Curry Brand, the team now in place, and what we’re doing together. We share a vision for a big future ahead…Now, the real work begins.”
Source: https:/clutchpoints.com
