Steph Curry, the NBA star, and Under Armour are once again placing large bets on one another.

With the announcement of a new long-term agreement on Thursday, the four-time NBA champion and the Baltimore-based sports gear brand revealed that they are expanding on their ten-year connection. Curry, 35, will be a long-term Under Armour employee after his playing career according to the agreement.

The performance-based deal’s financial parameters were not made public.

As president of Under Armour’s Curry Brand, Curry will assume a new position and develop new goods in a variety of categories, including basketball, golf, women’s wear, youth, and sports fashion.

In 2013, the nine-time NBA All-Star inked a contract worth approximately $4 million annually with Under Armour.

His present Under Armour contract is valued at $215 million and includes stock ownership in the business. Curry and Under Armour have together released ten signature sneaker lines during the span of their relationship. Curry is the only sportsman in Under Armour history to accomplish this.

“If the last ten years have taught me anything, it’s that Under Armour and I are capable of creating incredible things together,” Curry declared. “We bet on each other in 2013, and I’m all in on us moving forward together.”

As Under Armour moves toward a new CEO, Stephanie Linnartz, who assumed the position at the end of February, the new agreement highlights the significance of the Curry Brand for the company’s future. Under Armour is counting on its biggest basketball player to be active in every facet of his brand even after he finishes playing, much like Nike did with LeBron James and Michael Jordan in their lifetime deals.

As the Curry team concentrates on their next phase of development, Linnartz expressed her excitement about collaborating closely with them.Under Armour has had a turbulent few years. Under Amour’s company has suffered, despite the fact that Curry has become one of the greatest players in NBA history by winning multiple titles and awards. Since its founding by Kevin Plank in 2005, the company has had difficulty competing with Nike and Adidas for market dominance.

With revenue of $1.58 billion for the third quarter of its fiscal year, the company beat both the top and bottom lines last month, but inventory problems are still a problem for the retailer. By Wednesday’s end, the stock had dropped by around 9%.

Shoes sold for $354 million during the third quarter of Under Armour’s fiscal year. The business generated revenues of around $1.1 billion during three quarters. According to Cowen analyst John Kernan, “We are doubtful that Curry is greater than a $250 million business.”

To put things in context, 2022 was the highest-earning year for Nike’s Jordan brand, bringing in around $5 billion. 2003 saw Jordan’s official retirement from the NBA. Nike sold $7.97 billion worth of shoes in its third quarter.

Plank stated he thinks the restructured Curry partnership will provide the business with the impetus it requires.

“Stephen is among the most gifted people in our age. Fundamentally, he personifies the essence of an Under Armour athlete and is a vital member of the Under Armour community. Now serving as the firm’s executive chairman and brand leader, Plank expressed his excitement about continuing to develop with the company and inspiring athletes everywhere.