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Sunday, May 19, 2024

Steph Curry’s $75M Under Armour Extension Could Be a Lifetime Deal

  • Curry received 8.8 million restricted stock units valued at $75M.
  • The pact could be a lifetime deal for Curry if revenue goals are met.
Steph Curry and Warriors get most national games.
Kyle Terada-USA TODAY Sports

Golden State Warriors superstar Steph Curry has further solidified his link with Under Armour.

The two-time MVP received 8.8 million restricted stock units of the company’s common stock on April 3 as part of his extended role as brand ambassador, a package valued at $75 million, as disclosed in a recent SEC filing.

Under Armour’s extended contract has the potential to be a lifetime deal for the NBA star if revenue goals are met.

Curry and Under Armour announced a long-term partnership extension in late March that named him president of the Curry Brand. The 34-year-old has released 10 signature shoes with Under Armour since signing with the brand in 2013. 

The $75 million stock compensation will vest in two installments planned for 2029 and 2032. Curry earned $48 million this season as the NBA’s highest-salaried player as part of his Warriors contract that will pay him about $165 million through the 2025-26 season.

“There’s always been a continuation [in mind] with Stephen,” Under Armour founder and executive chairman Kevin Plank told ESPN. “I couldn’t imagine Under Armour without Stephen, or Stephen without Under Armour.”

Octagon negotiated the extended deal with Under Armour on behalf of Curry. 

The new deal is expected to focus on adding athletes as Curry Brand ambassadors. UConn women’s basketball star Azzi Fudd signed an NIL deal in 2021 to become a Curry Brand ambassador. 

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