“Nike showed Stephen Curry a Kevin Durant PPT, and lost on 14 Billion Dollars”: Why Warriors’ superstar decided to sign with Under Armour over the market leader

Warriors star Stephen Curry chose Under Armour over Nike for several reasons, including Nike’s own mistakes

Back in the summer of 2013, the Golden State Warriors got to sign Stephen Curry a 4-year, $44 million rookie extension deal. Back then, it was a risky move on the Warriors’ part, but as of today, it is considered the greatest steal in NBA History.

Before signing his extension, Steph was constantly going through issues staying healthy. However, since then, he made 6 straight All-Star teams. In the second year of his deal, Steph won the NBA MVP honors and led the Warriors to a championship. The very next year, he became the league’s first unanimous MVP and led the Warriors to a league record 73 wins in a season.

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Along with his 44 million deal, there was one thing different about him as well. His new Under Armour shoes. In the same summer of 2013, Steph chose Under Armour over Nike, and for good reasons.

How did Nike blow the Stephen Curry contract, and the $14 Billion dollars that came with it?

Back in the summer of 2013, Steph was a sneaker-free agent. Nike thought it would be an easy seal, so clearly, they decided to not put effort into the same. As Dell Curry revealed,

The pitch meeting kicked off with one Nike official accidentally addressing Stephen as ‘Steph-on,’ the moniker, of course, of Steve Urkel’s alter ego in Family Matters. ‘I heard some people pronounce his name wrong before,’ says Dell. ‘I wasn’t surprised, I was surprised that I didn’t get a correction.’

It got worse from there. A PowerPoint slide featured [Oklahoma City Thunder forward] Kevin Durant’s name, presumably left on by accident, presumably residue from repurposed materials. ‘I stopped paying attention after that,’ Dell says. Though Dell resolved to ‘keep a poker face,’ throughout the entirety of the pitch, the decision to leave Nike was in the works.

Nike was not ready to offer Steph the same status as KD, LeBron James, or Kobe. They didn’t allow him to have his own camps. All this didn’t sit right with Steph, who was offered all this by Under Armour.

UA offered Curry his own line of shoes and basketball camps. They got him on an initial 2-year, $8 million deal, which he renewed in September 2015. As of now, Steph has equity in the company and has a $20 million a year deal with them till 2024.

Steph doubled UA’s worth from $14 Billion to $28 Billion in 3 years

When Steph signed with UA, he was starting to show his potential but hadn’t accomplished much yet. In the first 3 years after he signed with them, Steph earned 3x All-Star nods, won 2x MVPs, and his first Championship.

With Steph’s tremendous jump, so did the sale of his merchandise. Many believe Steph player a major role in increasing the UA stock price from $28 in 2013 to $127 in 2016. This meant the company’s value went from $14.1 Billion to $28.2 Billion in 3 years. The difference? Wardell Stephen Curry.

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Nike and its executives would be hitting themselves every time they see UA soar due to every Curry move.