Stephen Curry Signs New Deal with Under Armour, Becomes President of Curry Brand
Stephen Curry has signed a long-term extension of his contract with Under Armour (NYSE: UAA) — one that has the potential to be a lifetime agreement.
A report from ESPN shares that the contract, which features an annual base pay, stock equity, royalties on signature products and on-court incentive bonuses, could be one of the “richest-ever endorsement deals” in sports. The new deal could earn the Golden State Warriors star more than his NBA contracts, which are expected to total more than $473 million through the 2025-26 season.
The partnership between the Baltimore-based sportswear brand and Curry has been on for the last decade. The new extension is designed to have performance-based revenue targets that would trigger extensions to Curry’s contract, thus creating the possibility of a lifetime deal.
“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.”
The new deal also designates Curry as the president of the Curry Brand, a brand he launched under Under Armor in 2020. He will also receive additional resources to expand his brand across several categories including basketball, golf, women, youth and sports lifestyle.
“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.
“We understand that it’s a mutually beneficial venture to do some great things, build a great roster, build more scale to the business and create great storytelling.”
Plank is optimistic that the new deal with Curry, who over the last decade has become one of the NBA’s greatest and most popular players, would be the catalyst Under Armour needs. The company remains far behind sportswear giants Nike and Adidas.
Under Armour last traded at $9.42, down 6.69% year to date.
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