Steph Curry, the NBA's all-time 3-point record holder, has received a generous stock grant from Under Armour Inc. worth $75 million. The grant was awarded following his appointment as president of the Curry Brand. The WSC and AC Family Revocable Trust were the recipients of the grant, which included 8,823,530 shares of Under Armour's Classic C common stock, subject to the agreement's terms. The grant will vest in two equal instalments in 2029 and 2034. The deal will secure Curry's finances long after he retires following in the footsteps of other greats like Michael Jordan.
Under Armour stated that the grant was given to Curry as "partial consideration" for his appointment as president. In this role, he will continue to oversee the label's current product categories and work on athlete insights, product development, and strategic marketing plans. This ensures Steph's vision for the brand will remain in line with his ideals, and also minimizes the chance of creative differences between the two. Currently, the Curry Brand offers a range of footwear and apparel for different sports categories, but the brand plans to expand its product offerings to include more styles, such as, golf, running, women's, youth, and sportswear.
Curry expressed his excitement about the appointment, emphasizing his belief that Under Armour is the best company to create innovative products that resonate with athletes. He also highlighted his commitment to impacting athletes and creating products that meet their needs. This partnership between Under Armour and Curry began in 2013, and the recent stock grant demonstrates Under Armour's confidence in Curry's ability to drive the Curry Brand forward and deliver groundbreaking products that athletes worldwide both want and need.
Overall, the deal illustrates Under Armour's dedication to investing in and supporting its partnerships with top athletes and influencers. With Curry's appointment and the expansion of the Curry Brand's product offerings, Under Armour is well-positioned to continue its growth and success in the sportswear industry. The investment shows just how valuable Curry is to Under Armour, before Curry inked his deal with the sportswear giant kids wouldn’t be caught dead hooping in their shoes. Curry has made Under Armour a staple amongst the younger generation by attaching his story to the sneakers and has made the brand desired by consumers. Curry’s deal is well deserved in our opinion and we hope other athletes can have the same impact with their products. For more on the latest sneaker news and, to stay up to date with the latest releases, connect with us on Instagram and Twitter.