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Stephen Curry’s“landmark” sneaker dealfinally has a dollar figure.
According to ESPN’s Shams Charania,Curry has agreedto a 10-year endorsement contract with Chinese sportswear giant Li-Ning worth more than $400 million. The landmark agreement will serve as the foundation for the next phase of Curry Brand, expanding the venture far beyond basketball shoes.
But according to the same report, it wasn’t Curry’s biggest offer.
Industry sources told ESPN that Curry received similar financial commitments from multiple companies and even turned down at least one offer that was more lucrative than Li-Ning’s proposal.
Ultimately, he chose the brand he believed offered the best long-term vision for growing his business empire.
The deal includes basketball footwear and apparel, athleisure lifestyle products, a dedicated golf line, and the ability for Curry to sign both male and female athletes under the Curry Brand umbrella.
Li-Ning is also planning to open Curry Brand retail stores in both the United States and China, giving the four-time NBA champion a global platform that extends well beyond the court.
Curry’s decision ends a highly publicized recruitment process that began after hemutually parted wayswith Under Armour in November following a 13-year partnership.
While Curry publicly expressed gratitude toward Under Armour, industry insiders reported growing frustration with what was viewed as underinvestment from a company facing declining valuation.
Source: California Post – Breaking California News, Photos & Videos
