Under Armour signed Stephen Curry – the Golden State Warriors star guard that last led his team to its first NBA title in 40 years – to a contract extension that will run through 2024 and includes an equity stake.
“In the first two years of our partnership we accomplished so much both on and off the court, and I’m looking forward to being part of the brand’s story for the rest of my playing career and beyond,” Curry said in a press release. “Together we share a passion for making athletes better and instilling self-belief in athletes everywhere. The entire team has done an amazing job to develop innovative product that performs on the court and build platforms that allow me to connect with athletes all over the world.”
Under Armour launched Curry’s first signature basketball shoe, the Curry One, and his signature apparel collection in February 2015. Since its launch, the Curry One has continued to almost fully sell out across all retail distribution channels. The Curry Two recently launched in Asia as part of Curry’s first-ever Under Armour tour of the region, and it will launch in the U.S. and globally on October 24.
Under Armour signed Curry in 2013 after Nike passed on matching its competitor’s offer. Nike reportedly originally pitched a deal worth approximately $2.5 million before Under Armour offered a contract worth close to $4 million per year.
“His work ethic, uncompromising self-belief, and commitment to the community are characteristics that make Stephen the perfect partner to ignite the growth of Under Armour in the sport of basketball and around the world,” Under Armour CEO Kevin Plank said in the statement. “We are extremely proud to call Stephen family and we are excited to write the next chapter of our shared story.”
Curry will continue to play a central role in global brand marketing campaigns, including training, lifestyle offerings and Under Armour’s Connected Fitness platforms. Curry’s integration into the brand’s suite of Connected Fitness apps, which will help elevate his game and enhance his fitness regimen, will include designing new training programs that will be available for all consumers.
The extended partnership with Curry is the latest reflection of Under Armour’s fast-growing momentum in basketball. In August, the brand announced a new 10-year partnership with the NBA, designating the brand as the title partner of NBA Draft Combine, presenting partner of the Jr. NBA program in the U.S. and partner of the NBA Fit App, which will be powered by Connected Fitness. The partnership also extends marketing rights to Asia, allowing Under Armour to promote Curry and other athletes on its NBA roster in greater China using NBA uniforms and league marks.