In 2013, Stephen Curry shocked the sneaker world by signing with then-upstart athletic company Under Armour over basketball powerhouse Nike.
At the time, Nike controlled the vast majority of the NBA sneaker market. Under Armour was virtually unheard of in the basketball space.
“We’re the underdog brand. We’re for the ones that were maybe born not big enough or tall enough or fast enough, or strong enough, or smart enough or clever enough,” said Under Armour founder and CEO Kevin Plank.
CNBC Sport’s “Curry Inc.: The Business of Stephen Curry” will premiere on CNBC on Wednesday, June 4, at 9 p.m. ET.
The deal was considered a defining moment in Curry’s business career, and it got done in part thanks to Curry’s locker mate at the Golden State Warriors, Kent Bazemore.
Stephen Curry, #30, and Kent Bazemore, #26 of the Golden State Warriors, celebrate defeating the Memphis Grizzlies 113-101 at Chase Center in San Francisco on May 16, 2021.
Thearon W. Henderson | Getty Images Sport | Getty Images
Plank wanted Curry to be the brand’s first big star. But he knew that to sign someone of Curry’s caliber, the company needed to think outside the box.
“We actually targeted Ken, and we just said we’re going to overwhelm Ken with more like shock and awe of product, service, story, love, hug,” Plank said in an interview for “Curry Inc.,” a CNBC Sport production centered on Curry’s career and business ambitions. “About three months into the Warriors’ season, and Curry is looking next door at Ken. He’s like, ‘Who’s this brand that you get all this attention of? Because I’m with Nike, and I really am not.'”
Stephen Curry’s new role will be as President of the Curry Brand.
Source: Under Armour
Under Armour’s Curry Brand
It wasn’t just Bazemore’s influence that landed Curry at Under Armour.
There was also a botched Nike presentation in which company executives mispronounced his first name and used a recycled slide deck that still had Kevin Durant’s name on it. Plus, Under Armour offered Curry a deal worth $4 million a year, while Nike offered $2.5 million — and declined to match.
Today, 12 years later, Curry has made a dozen different shoes for Baltimore-based Under Armour and has developed a line of signature products that includes footwear and apparel. In 2023, the brand signed a new long-term extension and made Curry the president of the newly formed Curry Brand, housed under the company’s banner.
As part of that deal, the 11-time NBA All-Star was given 8.8 million Under Armour common shares, valued at $75 million at the time, in addition to other awards and incentives.
While Curry has profited handsomely from his success at Under Armour, the brand has had its share of ups and downs. Changes in leadership, strategy and…
Read More: How Under Armour signed Stephen Curry away from Nike
