Stephen Curry, the Golden State Warriors guard widely regarded as the greatest shooter in NBA history, has severed his long-standing endorsement relationship with Under Armour in favour of a lucrative new contract with an unnamed Chinese sportswear manufacturer. The move, confirmed by sources close to the negotiations, has sent ripples through the global athletic apparel industry and raised questions about the shifting balance of commercial power between Western and Chinese brands.
Under Armour, which had partnered with Curry since 2013 and built a signature shoe line around his brand, has seen its stock slide by 4.2 per cent in early trading. The departure represents a significant blow to the Baltimore-based company, which has struggled to maintain market share against Nike and Adidas. Curry’s deal was estimated to be worth $20 billion in combined equity and royalties over the lifetime of the partnership, though exact terms remained confidential.
Meanwhile, the British sportswear sector has remained insulated from the fallout. Analysts note that UK-based brands such as JD Sports and Sports Direct have limited exposure to direct endorsements of top-tier basketball talent, instead focusing on distribution and retail. “The British market is less reliant on individual athlete endorsements than its American counterpart,” said James Hartley, a senior analyst at City-based consultancy SportMarket Insights. “JD Sports, for example, has built its brand around a broad portfolio of licensed merchandise rather than anchoring itself to a single superstar.”
The Chinese manufacturer set to acquire Curry’s endorsement is understood to be Anta Sports, a Fujian-based firm that has aggressively courted NBA talent in recent years, signing Klay Thompson and Gordon Hayward. Anta’s market capitalisation has grown by 300 per cent since 2017, driven by domestic demand and an expanding global footprint. The company declined to comment on the Curry negotiations, but insiders suggest the deal could be finalised within the next fortnight.
Curry’s decision reflects a broader trend of Chinese brands leveraging deep-pocketed sponsorship to gain credibility in the American market. The NBA has long been a strategic battleground for sportswear companies, with player endorsements serving as a primary vehicle for brand visibility. However, the geopolitical context is increasingly intertwined with commerce. The US-China trade war and lingering tensions over intellectual property have made cross-border deals more complex, though they have not deterred Chinese firms from pursuing top-tier American talent.
The British sportswear industry’s resilience may also be attributed to its emphasis on grassroots engagement and heritage brands. “UK consumers have a strong loyalty to homegrown labels like Umbro and Reebok, even if those brands are now owned by larger conglomerates,” Hartley added. “The market here is less volatile because it isn’t driven by the cyclical nature of athlete endorsements.”
For Under Armour, the loss of Curry compounds existing challenges. The company has faced declining revenue in North America and a failed foray into the footwear market dominated by Nike. Its stock has lost nearly 60 per cent of its value since its 2015 peak. The company announced a strategic review last quarter, focusing on cost-cutting and a renewed push into international markets, particularly Europe and Asia.
What remains to be seen is whether Curry’s departure will spark a broader exodus of NBA players to Chinese brands, which can offer more favourable terms given their lower overheads and government support. The league itself has maintained a neutral stance, with Commissioner Adam Silver noted for his diplomatic engagement with Chinese partners despite political friction.
As the deal awaits formal announcement, the sportswear industry watches closely. The British sector, for now, maintains its steady course, a testament to its structural stability in a market increasingly defined by individual star power.
