Steph Curry is a champion on and off the court, especially as more details about his newly negotiated deal with Under Armour Inc. are revealed. According to a report by Hypebeast, the NBA All-star has been given restricted stock units for 8,823,530 shares of its Classic C common stock, following his appointment to president of the Curry Brand last month. The stock grant is reportedly worth $75 million USD currently.
“If the past 10 years have shown me anything, it’s that Under Armour and I can build great things together,” Curry said last month. “It’s all about impacting athletes and creating products that perform and resonate with them, and Under Armour does it best. In 2013 we bet on each other, and I’m all in on taking this next step together.”
According to the outlet, the deal will roll out in equal installments on September 30, 2029, and September 30, 2034, unless the deal is terminated prior.
“The Award was granted as partial consideration in connection with Mr. Curry’s entry into an Under Armour, Inc. Athlete Product, Brand, Ambassador, and Endorsement Agreement (the “Athlete Agreement”) with the Company, pursuant to which Mr. Curry is continuing his relationship with the Company as a brand ambassador of the Company and will serve as the President of Curry Brand, a signature product line of the Company,” the filing said.
Although the terms of the renewed partnership aren’t public, it’s been reported that the overall deal could earn Curry $1 billion over its duration.
The Curry Brand is the umbrella under which the NBA star’s footwear and apparel is housed.