Stephen Curry’s deal with Under Armour became even more of a bargain when it broke that Adidas is offering James Harden $US200 million in an attempt to steal him from Nike.
While these kinds of offers can be the norm for NBA superstars — according to Forbes, Kevin Durant signed a 10-year extension with Nike worth as much as $US300 million with royalties and Adidas gave Derrick Rose a 13-year, $US185 million deal — Curry’s deal with Under Armour looks paltry in comparison.
Though the exact terms are hard to figure out, ESPN’s Darren Rovell notes that Nike missed the chance to keep Curry as one of the faces of its basketball line. After spending his first four years in the NBA with Nike, Nike originally offered Curry a deal worth $US2.5 million per year. Under Armour swooped in with an offer worth less than $US4 million per year for Curry, which Nike didn’t match.
And Curry’s impact on Under Armour has been profound. The reigning MVP for the champion Golden State Warriors, Curry’s popularity has never been higher. It was reported in July that Under Armour’s shoe sales were skyrocketing from Curry’s shoe, The Curry One, moving Under Armour into second in the shoe market, surpassing Adidas.
In the second quarter of 2015, during the same time frame when Curry won MVP and the Warriors won the title, Under Armour’s basketball shoe sales went bonkers with sales growing by 754% in that category.
Curry is a bargain for everybody. In 2012, when people were concerned about his long-term health, he signed a four-year, $US44 million extension with the Warriors, which is a steal now. Furthermore, he’s under contract for another two years, so he’s still awaiting his giant payday, which will almost surely earn him more than $US25 million per year.
Under Armour CEO Kevin Plank said he wants to build Under Armour’s basketball line into a $US1 billion business, with Curry as its face. Much like his NBA contract, Curry will reap the benefits when his deal with Under Armour ends.
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