- Curry’s previous deal worth a reported US$20m per year
- Golden State Warriors guard to take on elevated role leading Curry Brand
National Basketball Association (NBA) star Steph Curry has agreed a long-term extension with sportswear brand Under Armour, which will allow him take on an expanded role to grow the offshoot apparel division Curry Brand.
The partnership will ensure Curry, who first signed with Under Armour in 2013, remains with the Baltimore-based company beyond his playing career. Financial terms were not disclosed for the extension, with the Golden State Warriors guard’s previous deal worth a reported US$20 million per year. Last year it was reported in an interview with Rolling Stone that an extension could be worth more than US$1 billion.
Under Armour founder Kevin Plank told ESPN that there were specified performance-based revenue targets in place that would trigger clauses to continually extend Curry’s contract, with the potential for it to become a lifetime deal.
“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 expanded agreement will give the 35-year-old the title of president of Curry Brand, with Under Armour stating his new position would increase his ability to ‘drive athlete insights, product development and strategic business and marketing endeavours’. Curry will also work to provide new products across various categories, including basketball, golf, youth, women, and sports style.
The Warriors legend is also set to take on a broad advisory role in order to enhance brand loyalty and recruitment, which is aimed towards expanding Under Armour’s roster of athletes. More funding will also be provided by the brand for community-impact efforts.
“Stephen is one of the greatest talents of our generation,” said Plank, who now serves as Under Armour’s executive chairman and brand chief. “He is an integral part of the Under Armour family, and we are excited and inspired by this next stage in our partnership.”
Curry, who placed 14th in SportsPro’s 50 Most Marketable Athletes list last year, has become the athlete face of Under Armour since first aligning with the brand.
For Under Armour, the 35-year-old’s star power is hugely important, as it strives to establish itself against the likes of Adidas and Nike. According to ESPN, his signature sneaker series, which has seen ten produced so far, is one of the top-five highest-grossing signature shoe businesses in the NBA. Expanding his role is a show of faith that the Warriors guard will continue to be involved with the company long after his career, in a similar vein to Nike’s lifetime deal with LeBron James.