How Under Armour signed Stephen Curry away from Nike

Core Insights - The article discusses Stephen Curry's partnership with Under Armour, highlighting its significance in both his career and the brand's evolution in the athletic market [3][4][9]. Company Overview - Under Armour was relatively unknown in the basketball market when it signed Stephen Curry in 2013, while Nike dominated the NBA sneaker market [3][8]. - The deal with Curry was worth $4 million annually, surpassing Nike's offer of $2.5 million, which they did not match [8]. Brand Development - Over the past 12 years, Curry has developed a line of signature products with Under Armour, including footwear and apparel, and was recently named president of the Curry Brand [9]. - As part of his new contract, Curry received 8.8 million shares of Under Armour, valued at $75 million at the time [9]. Financial Performance - Under Armour's stock price has seen significant declines, dropping from a high of $45.41 in 2016 to below $6 per share currently, influenced by leadership changes and competition [10]. Community Impact - Curry's partnership with Under Armour emphasizes an "underdog" message, resonating with his personal journey as a smaller player in the NBA [12][13]. - A portion of the Curry Brand's revenue is allocated to support under-resourced communities, with initiatives such as refurbishing basketball courts and training coaches [14][15].