In a notable turn of events in sports marketing, Nike’s failure to secure a deal with Stephen Curry has been described as one of the most significant blunders in the industry. Back in 2013, the now-legendary shooter was in negotiations with Nike, who had the first chance to extend his contract. At the time, Curry, then a rising star at 25, was still on the brink of his illustrious career.
The meeting, led by Dallas Mavericks GM Nico Harrison, reportedly went poorly, marred by blunders such as mispronunciation of Curry’s name and a presentation that mistakenly highlighted superstar Kevin Durant instead. Nike proposed a $3.88 million contract, while rival Under Armour swooped in with a far more lucrative offer of $6.2 million that Nike didn’t counter.
Ethan Sherwood Strauss dubbed this incident “the marketing heist of the century.” PFL CEO Peter Murray, involved with Under Armour at the time, recently reflected on the partnership, acknowledging Curry’s pivotal role and the impact of his daughter’s shoe choice in the decision-making process.
Curry’s decision to partner with Under Armour proved transformative, significantly boosting both the brand and his career as the Golden State Warriors embraced a new style of play. The combination of Curry’s exceptional skills and his wholesome image made him a marketing phenomenon, driving Under Armour’s market value exponentially. By 2016, analysts estimated Curry’s financial contribution to Under Armour at an astonishing $22 billion.
As Curry continued to defy expectations, leading the Warriors to multiple NBA titles and redefining the game with his exceptional three-point shooting, he became a symbol of hope for aspiring players worldwide. Meanwhile, Harrison has faced scrutiny over the Curry deal, even as he attempts to distance himself from the mishap, insisting he wasn’t responsible for the mispronunciation that tainted the meeting.
Ultimately, Curry’s relationship with Under Armour epitomises how key marketing opportunities can shape the trajectory of an athlete’s career, making the 2013 Nike meeting a cautionary tale for brands in the competitive world of sports endorsements.