April 3, 2023: NBA’s Steph Curry and Under Armour are betting big on each other.

On Thursday, the Baltimore-based sports apparel brand and the four-time NBA champion announced that they are building on their decade-long relationship with a recent long-term partnership. The deal will ensure that Curry aged 35, will remain with Under Armour long beyond his playing job.

The financial terms of the performance-based deal were not announced.

Curry will take on a recent role as president of Under Armour’s Curry Brand and work across categories like basketball, golf, women, youth and sports style to deliver the recent products.

The nine-time NBA All-Star signed with Under Armour in a deal worth approximately $4 million annually.

Curry and Under Armour have launched ten signature shoes together throughout their partnership. Curry’s the athlete in Under Armour history to do so. His contract with Under Armour is valued at $215 million and states an equity stake in the firm.

“If the previous ten years have shown me, it’s that both of us can build things together,” Curry stated. “In 2013, we on each other, and I’m everything in on taking this coming step together.”

The recent deal signifies the value of the Curry Brand for the upcoming Under Armour as the firm changes to its recent leadership of CEO Stephanie Linnartz, taking the helm at the end of February, like Nike’s lifetime agreements with Michael Jordan, Under Armour, banks on their biggest basketball star involving in all aspects of his brand even following his playing days.

Linnartz stated that she’s looking forward to working closely with the Curry team and focusing on the next chapter of growth.

It’s been tumultuous the recent years for Under Armour. While Curry has won championships and awards, becoming one of the most prominent players in NBA history, Under Amour’s business has yet to catch up. The brand, begun by Kevin Plank in 2005, has struggled to take market share versus Nike and Adidas in the last years.

In the previous month, the company stated a beat on the top and lower line for its third quarter, with revenue coming in at $1.58 billion. Still, the retailer continues to contend with inventory problems. The stock was down by 9% by Wednesday.