Stephen Curry made a leap of faith when he left Nike for Under Armour and now Under Armour is rewarding Steph’s decision by extending his contract and reportedly giving him equity in the company.
BREAKING: Under Armour announces it has signed Steph Curry through 2024, new deal includes equity stake
— Darren Rovell (@darrenrovell) September 16, 2015
Curry had this to say about the signing:
“Under Armour has felt like family since day one,” said Curry. “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. 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. The best is yet to come.”
Curry’s signature shoe the Curry 1 has “continued to almost fully sell out across all retail distribution channels” according to Street Insider. Not coincidentally, UA’s basketball footwear sales experienced huge growth in the first and second quarters of 2015.
Considering that Curry’s original deal with Under Armour was for less than $4 million a year, this latest development is great news for Curry. It is also a really smart move by Under Armour to lock up its signature basketball player for the foreseeable future. It sure looks like Nike made a mistake by only offering Steph $2.5 million a year when his contract with the Swoosh expired in 2013.
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