Stephen Curry was supposed to be an Under Armour athlete for life.
The 37-year-old Golden State Warriors phenomenon signed with the well-known company in 2012 and appeared to have every incentive imaginable to stay put.
However, that was far from the case, as ESPN’s Shams Charania announced that the two parties would no longer be doing business together on Nov. 13.
While opinions on the rationale behind Under Armour’s inability to keep its partnership with Curry intact are all over the place, Andscape’s Aaron Dodson revealed the real reason the multi-billion-dollar company ultimately fumbled the four-time NBA champion.
“As part of Curry’s long-term extension (2023), Under Armour elevated him to the role of president of the Curry Brand, while also reportedly awarding him 8.8 million common stock shares, then valued at $75 million," Dodson wrote last Friday/
“Two years later, and Curry’s initially anticipated lifetime partnership has fallen apart, as Under Armour’s stock has significantly plummeted amidst a company restructure, with the shares the NBA superstar received upon signing in 2023 now worth about half their original value.”
In a nutshell, Under Armour is going in the wrong direction financially, leading many to believe it will wind up bankrupt sooner rather than later.
It’s unlikely Curry has any ill will toward the company that took a chance on him a little over a decade ago. However, the three-point shooting wizard comprehends that leaving Under Armour is a decision that will benefit everyone involved.
“Just in the best interest of both parties,” Curry told reporters on Nov. 14 when asked why the split occurred.
“The sneaker industry is difficult, and things change over time and to the point of you give your best effort to create something sustainable. A little disappointing how it turned out based on where the Curry Brand has been the past five years, and the announcement we had two years ago.”
With former Warriors teammate Kevin Durant recently making a convincing, yet subtle Nike pitch to Curry, the public could witness the future Hall of Famer make a blockbuster sneaker/business move in the foreseeable future.
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