Nike once reportedly lost $14,000,000,000 after fatal presentation slip up which led Steph Curry to sign with Under Armour
Some may wonder how Nike was not able to sign Steph Curry to a shoe deal despite the star's potential. Now as a prime endorser of Under Armour, the four-time NBA champion has become a what-if story inside Nike.
Steph Curry has signed a long-term extension with Under Armour that will go beyond his playing career, per @NickDePaula
This new deal could be one of the richest endorsement deals ever and will make him the president of Curry Brand. pic.twitter.com/rnkO3pSid3
For the record, Curry once wore Nike and has been under the company's umbrella prior to winning his championships. The early pictures of Curry's career can be seen in him wearing Nike Zoom Hyperfuse in NBA games. In fact, he signed a four-year deal with the company until 2013.
"I was with them for years," Curry says in an interview with ESPN. "It's kind of a weird process being pitched by the company you're already with. There was some familiar faces in there."
As Steph Curry continued to shine in the NBA, in 2013, his camp alongside with father, Dell, met with Nike again at the Oakland Marriot, three levels below the Golden State Warriors' training area.
Nico Harrison, a sports marketing director, was controlling the pace of the meeting and Curry's name had been mispronounced throughout the presentation.
"The pitch meeting, according to Steph's father Dell, who was present, kicked off with one Nike official accidentally addressing Stephen as 'Steph-on," said in the ESPN article.
Dell Curry sat through the entire presentation and he was surprised that a correction on how the name was supposed to be pronounced didn't happen.
Also, the PowerPoint slides seemed to be reused from a pitch to Kevin Durant, who was at that time playing for the Oklahoma City Thunder.
"I stopped paying attention after that. Throughout the entirety of the pitch, the decision to leave Nike was in the works," said Dell Curry. "They have certain tiers of athletes. They have Kobe, LeBron and Durant, who were their three main guys. If he signed back with them, we're on that second tier."
Nike's failed pitch to Steph Curry
The name of Nico Harrison will forever be attached to the missed Nike deal with Steph Curry. The sharpshooter from the Golden State Warriors is now a marketing giant in the game.
The shoe company proposed a $2.5 million deal to Curry, as he was coming off a an injury-laden season. However, Under Armour pitched a $4 million deal, realizing the potential of the point guard. As a result, Curry signed a contract with Under Armour, which is currently worth $215 million and expires in 2024.
Steph Curry has signed a "lifetime" contract with Under Armour and has been named President of Curry Brand.
It could be one of the "richest-ever" endorsement deals in sports. pic.twitter.com/D4nWjv8aPP
The total sales of Curry's shoes have amassed $14 billion and it could have been registered in the accounting books of Nike.
This is a marketing pitch disaster that will forever be a cautionary tale for negotiators worldwide.