Warriors star Stephen Curry chose Under Armor over Nike for several reasons, including Nike’s own mistakes
Back in the summer of 2013, the Golden State Warriors had to sign a four-year, $ 44 million rookie deal with Stephen Curry. It was a risky move by the Warriors back then, but as of today, it is considered the biggest stolen thing in NBA history.
Before signing the extension, Steph was constantly going through trouble to stay healthy. However, he has since made 6 consecutive All-Star teams. In his second year of contract, Steph won the NBA MVP title and led the Warriors to the championship title. Already the following year he became the league’s first unanimous MVP and led the Warriors to a record 73 wins of the season.
With his contract worth 44 million, there was one thing different about him. His new Under Armor shoes. That same summer of 2013, Steph chose Under Armor instead of Nike, and for good reason.
How did Nike ruin the contract with Stephen Curry and the $ 14 billion that came with it?
Back in the summer of 2013, Steph was a sneaker-free agent. Nike thought it would be a simple stamp, so it is clear that they decided not to invest effort in the same. As Dell Curry discovered,
The meeting began with a Nike official accidentally addressing Stephen as ‘Steph-on’, which is, of course, the nickname for Steve Urkel’s alter ego in Family Matters. ‘I’ve heard some people mispronounce his name,’ says Dell. ‘I wasn’t surprised, I was surprised I didn’t get the correction.’
It got worse from there. The PowerPoint slide is displayed [Oklahoma City Thunder forward] The name of Kevin Durant, probably left by chance, is probably a remnant of repurposed materials. “I stopped paying attention after that,” Dell says. Although Dell decided to ‘keep a poker face’ throughout the course, the decision to leave Nike was under construction.
Nike wasn’t willing to offer Steph the same status as KD, LeBron James or Kobe. He was not allowed to have his own camps. All this did not suit Steph, to whom Under Armor offered it all.
The UA offered Curry its own line of shoes and basketball camps. They got it in an initial two-year $ 8 million contract, which they renewed in September 2015. Steph currently has share capital in the company and has a $ 20 million a year contract with them until 2024.
Steph has doubled the value of UA from $ 14 billion to $ 28 billion in 3 years
When Steph signed with UA, he started to show his potential, but he hasn’t achieved much yet. In the first 3 years after signing with them, Steph earned 3 All-Star accolades, won 2x MVP and his first championship.
With Steph’s huge jump, sales of his goods also increased. Many believe Steph plays a major role in raising UA stock price from $ 28 in 2013 to $ 127 in 2016. That meant the company’s value rose from $ 14.1 billion to $ 28.2 billion in 3 years. Difference? Wardell Stephen Curry.
Yet, as much appreciated as Step Arry did by Under Armor, he was perhaps even more valuable to them. Financial analysts estimate that it is worth as much as $ 14 billion for the company that put it in the spotlight. Talk about a win-win situation. pic.twitter.com/9JqhSCH1hU
– ‘(@Erhrights) March 7, 2021
Nike and its executives would hit themselves every time they saw the UA grow because of every Curry move.