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Stephen Curry has signed a 10-year endorsement deal with Chinese sportswear company Li-Ning, moving his Curry Brand venture to the Beijing-based company after departing Under Armour $UAA +0.63% in November, according to ESPN.
Under the terms of the deal, Curry will be able to develop basketball products, athleisure lifestyle wear, and a full golf line, and will have the authority to sign both male and female athletes to his brand, ESPN reported. Li-Ning also plans to open Curry Brand stores in the U.S. and China, Curry said in a statement on his brand collective site Thirty Ink, as CNBC reported. Financial terms were not disclosed.
"This is bigger than a shoe deal, bigger than a signature series. This is a partnership of a lifetime," the Golden State Warriors guard said in a video posted to his Instagram, according to CNN.
Among the factors that tipped Curry toward Li-Ning — chosen over pitches from domestic and international brands alike — was how the shoes already worn by two of the company's signature athletes felt on his feet: Warriors teammate Jimmy Butler and NBA Hall of Famer Dwyane Wade, ESPN reported. Curry's agent, Jeff Austin, finalized negotiations in recent days, ESPN added.
