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Stephen Curry, Under Armour agree to long-term extension to further global growth

Octagon President Phil de Picciotto, Curry, Under Armour founder Kevin Plank and UA SVP/Global Sports Marketing Sean EggertUnder Armour

Under Armour has agreed to a long-term partnership extension with Warriors G Stephen Curry to grow and expand both UA and the Curry Brand globally and further business growth. Terms of the new long-term deal were not disclosed, but it is intended to go well beyond Curry’s playing career and could become one of the richest-ever endorsement deals in sports once annual base pay, stock equity, royalties from signature products and on-court incentives are calculated. The growth potential of the stock awarded and expected compensation from the long-term deal could also see Curry earn more than his all of his NBA contracts, which totals more than $473M. UA SVP/Global Sports Marketing Sean Eggert said he and Octagon President Phil de Picciotto, who negotiated the deal on behalf of Curry, had "mutual interest in doing something very different from a traditional deal, in order to unlock Stephen’s full potential to impact not only the UA and Curry brands but most importantly the next generation of athletes." Under the enhanced partnership, Curry will act as president of Curry Brand where he will drive new product developments and innovations such as the Charged, HOVR, Warp, and Flow technologies he has already helped develop, and further business and marketing opportunities. He will also take on a broad advisory role to recruit and expand UA’s roster, with potential to sign athletes from all over directly under the Curry Brand. de Picciotto said that he and Eggert engaged in very focused discussions for about a year for the deal, with a shared commitment to create a true partnership built on generating high levels of value long into the future. He also said the process was constructive and collaborative, with Curry, Octagon Managing Dir Jeff Austin and the rest of the team.

GOING GLOBAL: Eggert said Curry's influence at UA is "felt and valued across the business from athlete insights to product development, strategic business, and marketing endeavors." He also notes him being an "exceptional human being, as well as businessman, philanthropist and so much more." To further that point, the enhanced partnership will also include increased funding for community impact efforts. Eggert has said the Curry Brand plans to invest in increasing distribution and sales reach globally, as well as providing even more access to sports for male and female athletes in the U.S. and around the world. Under the UA brand, Curry has released 10 signature shoes with unique design that harkens back to memorable moments throughout his career. Curry, who recently turned 35, is only the ninth athlete in history to do so, and the first under UA. Curry Brand, which launched in 2020, currently features footwear and apparel across multiple sports including basketball and golf, as well as a lifestyle brand.

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