Under Armour revealed Thursday that the sportswear company and NBA star Stephen Curry will be teaming up long-term thanks to a newly-inked extension to their partnership.
Under the "enhanced" partnership, the Golden State Warriors nine-time all-star point guard will assume two new roles, one as the president of Curry Brand and one that is a "broad advisory role," according to the press release put out by Under Armour. The deal is meant to increase their market share and drive growth, as well as "create new business opportunities on a global basis," the company said.
He will, among other things, be contributing to product development, marketing efforts and recruitment of the sportswear company’s athlete roster, according to the release. The categories of basketball, golf, women, youth and sportstyle will see contributions from Curry.
Curry, in the press release, said he was "all in on taking this next step together."
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The athlete’s partnership with Under Armour dates back 10 years, when he first reached an agreement with them. Through it, just as many signature Curry sneakers have been put out, according to the company. His Curry Brand with Under Armour debuted in late 2020.
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"Belief is a big part of who I am on and off the court," Curry said in Thursday’s release. "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."
Under Armour said the amount of money allocated to "creating opportunity, access, and equity" for the next generation of athletes also received a boost via the partnership.
The press release did not include any information about the financial aspects of the new deal. However, Under Armour founder Kevin Plank indicated the deal could become a lifetime one for Curry due built-in clauses that could lengthen the contract’s span if financial performance goals get met, according to ESPN.
"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," Stephanie Linnartz, who recently assumed the Under Armour CEO role, said.
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The Baltimore, Maryland-based company recently reported generating $1.58 billion in fiscal third-quarter revenues, compared to $1.53 billion in the same three-month period the prior year. Its quarterly net income, meanwhile, saw a nearly 11% year-over-year increase, going to $121.6 million from $109.7 million.
North America revenue fell 2% while international revenue increased 14%.
Curry has played with the Golden State Warriors the entirety of his 14-season NBA career. He has an extremely lucrative basketball contract, helping make him one of the highest-paid athletes last year. His earnings were $92.8 million, including on-court and off-court, according to Forbes.
