Author: Chandra Moulee Das
Golden State Warriors point guard Steph Curry is set to become US$75 million richer after receiving shares in Under Armour. The deal is part of the renewed partnership, where the 35-year-old NBA star will also have a greater role as an Under Armour ambassador.
According to Under Armour’s latest SEC filing, it received 8,823,530 stock units on April 3. The $75 million reward, however, will be granted in two installments in 2029 and 2034.
Curry and the Baltimore-based company have been associated since 2013. It’s been a symbiotic relationship, as Curry’s popularity has helped Under Armour become one of the biggest sports brands in the world. The Warriors star has had ten sneakers signed by UA and plans to have more in the future.
Steph Curry has renewed his contract with a new deal to stay with Under Armour, which was announced by the company at the end of March. The new long-term contract will extend beyond Curry’s playing career and could even become a lifetime contract if certain revenue targets are met.
The Golden State Warriors star, in an interview with Rolling Stone last year, revealed that his new contract with Under Armour could be as lucrative as $1 billion.
“If the last ten years have shown me anything, it’s that Under Armour and I can build great things together,” Curry said in an official statement. “It’s about impacting athletes and creating products that work and resonate with them, and Under Armour does that best. In 2013, Under Armour bet on me and I bet on them, and I’m committed to taking this next step together. “
Steph Curry and Under Armour almost ended their relationship in 2018
Curiously, the relationship between Steph Curry and Under Armour has had its ups and downs. In 2018, there was a disagreement between Curry and the company’s founder, Kevin Plank, which almost led to Curry leaving the company. Curry was unhappy with the sales of the Curry 3s, while Plank was upset that Curry wasn’t wearing Under Armour gear to games. The relationship was further strained by Plank’s support for former US President Donald Trump a year earlier.
Notably, after a meeting between Curry and Plank, both parties decided to improve their relationship. Curry received more information about his products and the partnership was saved. With a current net worth of $160 million, Curry’s new contract with Under Armour will probably increase his fortune.