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Under Armour Inc. recently signed a new agreement with the NBA superstar Stephen Curry. This is a contract renewal, but this time, they are looking forward to a long-term partnership.
CNBC reported that the basketball star and the Baltimore-headquartered footwear and sports apparel manufacturer announced on Thursday, March 30, that they would continue to build their relationship through the new deal. It is indeed a long-term contract because it was agreed that Curry would stay with Under Armour even after his retirement from the National Basketball Association.
This means that the NBA player’s partnership with Under Armour will still be in effect beyond his playing years. Although the company did not disclose the financial terms of the deal, it is definitely worth a massive sum.
Moreover, as part of the agreement, Curry will also become the president of his Curry Brand, which will offer various products across categories, including golf, basketball, youth, women, and sports styles. He and the team will work to deliver new items under his namesake brand.
Curry first collaborated with Under Armour with a contract worth around $4 million per year. And this new deal shows the big part that the Curry Brand will play for the future of the sportswear company.
"Stephen is one of the greatest talents of our generation. He is an integral part of the Under Armour family, and we are excited and inspired by this next stage in our partnership," Under Armour’s executive chairman and brand chief, Kevin Plank, said in a press release. “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."
Stephanie Linnartz, the president and CEO of the company, also commented, "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."
