Golden State Warriors' Stephen Curry Signs New Deal With Under Armour, Gets Ownership Stake
Sorry Nike and Adidas, Stephen Curry is not going anywhere anytime soon.
The Golden State Warriors superstar will not leave Under Armour soon as reports confirmed that Curry struck a new deal with the company on Wednesday.
According to ESPN, Curry appeared at the annual investor day of Under Armour, where he revealed that he has already signed a new contract that will run until the 2014 season.
The terms of the new deal were not revealed, but Under Armour announced that Curry received an ownership stake in the company. Under Armour executive vice president of global marketing Adam Peake praised the reigning NBA Most Valuable Player for his contribution to the company.
"Stephen is a once-in-a-generation talent and has unprecedented influence on the game of basketball," Peake said. "His work ethic, uncompromising self-belief, and commitment to the community are characteristics that make Stephen the perfect partner to ignite the growth of Under Armour in the sport of basketball and around the world."
Curry was previously a Nike endorser, but the Swoosh Company did not sign him to a new deal two years ago, when Under Armour tendered an offer. Nike had a chance to match the deal, which was valued at $4 million per year, but opted to go into a different direction, not knowing that Curry will eventually rise to stardom.
Under Armour released the Curry One, Curry's first signature shoe with the company, last year. His second signature kick, the Curry Two, is now available in Asia.
With Curry on board, Under Armour experienced massive sales increase in the United States. The company sales of shoes reportedly went up 40 percent last quarter and also had a record sales of $153 million for just three months.
"Under Armour has felt like family since day one," Curry said in a statement. "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."
Aside from Curry, New England Patriots quarterback Tom Brady and golf superstar Jordan Spieth also represents Under Armour. The company also offered a huge 10-year deal worth around $285 million to Oklahoma City Thunder Kevin Durant last year, but Nike eventually matched the offer to keep the 2014 NBA MVP.
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