BLUNDER! Stephen Curry signing with Under Armour cost Nike a whopping $14 billion
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Stephen Curry
Nike is not one to make the wrong decisions. However, not signing Stephen Curry was one of the biggest blunders the sports brand has made in its history.
The list never ends from Michael Jordan, LeBron James, and Kevin Durant when talking about the superstars that Nike has signed in their successful run. However, the $150 billion dollar brand once had the opportunity to quadruple its worth by signing the legendary, flamboyant, Stephen Curry of the Golden State Warriors.
Nike is often known for their eye for talent. Very rarely do we see the brand miss out on extraordinary stars in the NBA. The sports brand that rings synonymous with the GSW stars is Under Armour. Very few actually know about how the legendary three-point shooter was once under a Nike contract.
Curry was in a four-year deal with Nike until the year 2013. When the time came around for the company to negotiate and renew the superstar’s deal, they messed up big time. The iconic sports brand failed to meet terms with Stephen Curry and missed out on a once-in-a-lifetime opportunity.
Not only did the brand undervalue the superstar, but they also showed massive disrespect towards a young Curry. Disrespect never sits well with the Stephen Curry family and Steph and his father were quick to take the risk of thinking outside the box and signing with another company.
How Nike disrespected Stephen Curry
It was not only that Nike tragically undervalued the Golden State Warriors star but they also dropped the ball with their negotiation presentation. Despite being known that Stephen Curry was not valued as much as the other stars like Kyrie Irving, and Anthony Davis who was also up-and-coming but yet unproven, Steph and his father headed into the presentation with an open mind.
Nike should have fired the staff who came up with the presentation as the member of the sports brand “accidentally” mispronounced Curry’s first name as “Steph-On” as reported by Gameday News. The next mistake that took place during the presentation was the biggest sign of disrespect.
The Nike brand did not even bother making a new presentation for Curry. In one of the slides of the presentation, Curry was referred to as Kevin Durant. They couldn’t even edit their presentation with precision…Nike then triple-downed on their disrespect by proposing a $2.5 million deal.
Also read: LeBron James Net Worth, Endorsements, House, Wife and more
Under Armour struck gold with Stephen Curry following Nike’s fumble
After the fumble from the number athlete brand in the US, Curry began looking for other options. Under Armour, a company that was not at the top while looking to sign an unproven, coming off an injury season Curry, was taking a huge risk but the folks at the company saw great potential in Steph.
Curry ended up being $14 billion dollars more than what Nike originally suggested. Under Armour came up with a $4 million offer which Nike still had the choice to match and would have ended up signing the legendary player. But Nike’s stubbornness cost them a fortune with this one.
Under Armour came clutch and closed the deal with Curry. After this collaboration with Stephen Curry, Under Armour’s shares rocketed to $120 from a mere $47 a share. The legendary point guard’s net worth has now doubled and is one of the richest athletes in the world. Since that signing, everything has been nothing but net for Curry and his sports brand.
Also read: How much is the Golden State Warriors Star Steph Curry earning from the Under Armour Deal?
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Prateek Athanur
(2944 Articles Published)