Under Armour, Inc. extended and expanded its contract with the Golden State Warriors point guard and four-time NBA champion Stephen Curry in a deal beyond his retirement from the game. As part of the new terms, Curry becomes president of the Curry Brand.
In recent months, reports indicated a significant extension to his contract with Under Armour was underway. Although the terms were not disclosed, the extended contract is expected to be the most lucrative in sports once Curry’s annual base pay, stock equity, royalties on signature products, and on-court incentive bonuses are tallied.
A Rolling Stone article published in September 2022 said Curry was close to signing a “lifetime deal” valued at $1 billion.
Under Armour said, “The enhanced partnership is designed to capture market share, fuel business growth and create new business opportunities globally. This next chapter of the partnership will build upon the success and accomplishments from the past decade to continue driving product solutions and innovation, impacting communities across the globe, and growing the Under Armour and Curry Brand together.”
Under Armour said that since 2013, Curry has helped launch ten signature shoes as part of the partnership. With the launch of the Curry Flow 10 this past fall, he became the ninth athlete and the first Under Armour athlete to release ten signature shoes within its lineup. In 2020, Curry and Under Armour introduced UA Flow, which helped take his signature shoes and game to the next level.
Under Armour also said Curry provided insights into its product technologies for UA Charged, UA HOVR, UA Warp, and UA Flow.
As part of the next phase of the partnership, Under Armour and Curry will elevate its commitment across categories, including basketball to golf, women, youth, and sportstyle. Curry will also assume a broader advisory role strengthening brand love, recruitment and presenting opportunities across categories to expand Under Armour’s athlete roster.
“Stephen is one of the greatest talents of our generation,” said Kevin Plank, executive chair and brand chief of Under Armour. “He is an integral part of the Under Armour family, and we are excited and inspired by this next stage in our partnership. At his core, Stephen embodies what it means to be an Under Armour athlete, and we feel fortunate to take the next step with him in continuing to empower those who strive for more together.”
“If the past ten years have shown me anything, it’s that Under Armour and I can build great things together,” said Curry. “It’s all about impacting athletes and creating products that perform and resonate with them, and Under Armour does it best. In 2013, Under Armour bet on me, and I bet on them, and I’m all in on taking this next step together.”
The next phase also includes increased funding for community impact efforts for the next generation of athletes. Since its launch in 2020, the Curry Brand has “refurbished ten basketball courts, trained 2,500 coaches, supported 77 programs, and impacted more than 72,000 youth athletes, more than halfway to the goal of renovating 20 courts, training 15,000 coaches and supporting 125 programs by 2025 to impact 100,000 kids,” said Under Armour.
“I am beyond excited to be joining Under Armour at this pivotal time, especially with the heat and influence that Stephen will bring to us. I look forward to working closely with Stephen and the Curry team as we focus on the next chapter of accelerated growth across the Under Armour Brand,” said Stephanie Linnartz, president and CEO of Under Armour.
Said Curry, “Belief is a big part of who I am on and off the court. 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.”
Curry joined Under Armour’s roster in 2013 after leaving Nike. He reportedly signed a deal slightly below $4 million and almost left the brand in 2018. His previous contract reportedly paid him about $20 million a year.
Image courtesy Under Armour