Under Armour and NBA superstar Stephen Curry have announced a new long-term partnership. The deal will ensure that Curry will remain with Under Armour long past his playing career. Although the deal's financial details were not disclosed, it is rumored to be the most lucrative endorsement deal in history.

THE CURRY BRAND

Curry's new role will be as President of the Curry Brand, and he will work across categories such as basketball, golf, women, youth, and sports style to deliver new products. This deal signifies the importance of the Curry Brand for the future of Under Armour as the company transitions to its new leadership of CEO Stephanie Linnartz, who took the helm at the end of February.

MORE RESPONSIBILITY FOR CURRY

Curry will be tasked with helping drive athlete insights, product development, and strategic business and marketing endeavors. He will also assume a broad advisory role focused on expanding brand loyalty and recruitment to expand Under Armour's athlete roster.

Under Armour will also provide increased funding for community impact efforts as part of his new deal, an area that has always been important to Curry. Curry started the Underrated Tour, which helps underappreciated high school players get more exposure.

Curry and Under Armour first signed a deal in 2013 worth about $4 million per year, and his current contract is worth $215 million and includes an equity stake in the company. Curry and Under Armour have launched ten signature shoes together throughout their partnership. Curry is the only athlete in Under Armour history to do so.

CONCLUSION

The new long-term partnership is similar to Nike's lifetime deals with Michael Jordan and LeBron James. Last year, in an interview with Rolling Stones, Curry revealed that the agreement could be valued at $1 billion. Under Armour is banking on their biggest basketball star to be involved in all aspects of his brand, even after his playing days.

Under Armour and Stephen Curry's new long-term partnership is significant for both parties. Under Armour hopes to regain market share, and Curry is given an opportunity to lead the Curry Brand, which has always been important to him. This deal shows that Under Armour is betting big on their biggest basketball star and his ability to drive athlete insights, product development, and strategic business and marketing endeavors.