Stephen Curry Signs $400 Million Deal With Li-Ning After Under Armour Split

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6.4.2026

Quick Facts

Curry signed a 10-year, $400 million endorsement deal with Chinese company Li-Ning in June 2026
The deal includes basketball products, lifestyle wear, golf line, and ability to sign other athletes under Curry Brand
Under Armour’s basketball business, including Curry brand, generated $100-120 million in revenue during fiscal 2026

Stephen Curry ended his 13-year partnership with Under Armour in November 2025 and signed a 10-year, $400 million endorsement contract with Chinese sportswear company Li-Ning in June 2026.

The Li-Ning deal includes basketball products, athleisure lifestyle wear, a full golf line, and the ability for Curry to sign both male and female athletes under his own brand. Performance-based incentives could push the contract’s total value to approximately $1.19 billion over the decade.

“I knew that Li-Ning could be the right partner that can deliver on the innovation and design that I want Curry Brand to stand for,” Curry said. He described the partnership as “the partnership of a lifetime.”

Under Armour CEO Kevin Plank said the separation allows the company to focus on its core brand during a critical turnaround period. “For Stephen, it’s the right moment to let what we created evolve on his terms,” Plank said in a statement.

Under Armour’s basketball business, including the Curry brand, generated between $100 million and $120 million in revenue during fiscal 2026. The company said the separation would not significantly affect its financial results or profitability.

Curry chose Li-Ning despite offers from American and foreign companies, including at least one brand that offered more money. The decision reflects his focus on building a long-term business platform beyond his playing career.

Li-Ning reported $4.3 billion in revenue in 2025, with more than 98% coming from China. The company could outsell Nike in China by 2030 based on current sales trajectories.

Sports marketing expert Bob Dorfman said Curry’s opportunity in China is “massive” because he’s the most accessible NBA star. “Kids can identify with him because he’s not huge, he’s public facing, and he’s a family man,” Dorfman said.

The deal comes as Under Armour faces challenges with sales falling for eight straight quarters and a revolving door of top leadership. Third quarter 2025 results showed earnings per share of $0.003, down from $0.26 in the same period the previous year.

Li-Ning merchandise was banned in the United States in 2022 over forced labor concerns. Rep. Chris Smith said he plans to ask the Department of Homeland Security to examine Li-Ning imports.