On Monday evening, Golden State Warriors point guard Stephen Curry and Chinese sportswear brand Li-Ning announced a ten-year contract. More than a signature sneaker deal, the partnership will go beyond basketball and traditional shopping markets.
The new contract comes after a wild sneaker free agency season where Curry excited fans and tantalized potential footwear endorsers by wearing various sneakers. As is always the case in business and basketball, there are winners and losers.
Winner: Stephen Curry
According to Shams Charania of ESPN, Curry's endorsement deal is worth over $400 million. Additionally, Curry had similar financial commitments from other brands, including at least one more lucrative offer.
Curry does not have to worry about negotiations stretching out into the summer. Instead, he hits the ground running and will have plenty of marketing momentum heading into next season. Get ready for another Curry 1 signature basketball shoe within the next year.
Loser: Under Armour
Under Armour's partnership will unfairly be remembered for two things: dad shoes and a divorce. Throughout their partnership, Curry and Under Armour created plenty of great basketball shoes and apparel.
Plus, Curry helped the Under Armour Hoops brand all the way down to the AAU level. Not only did Under Armour lose Curry, but then WNBA All-Star Kelsey Plum. It looks like San Antonio Spurs guard De'Aaron Fox is staying with Under Armour, but the American brand has a lot of work to do in the basketball category.
Winner: Curry Brand
Curry Brand lives on. We knew from the beginning that Curry would retain the rights to Curry Brand, but it seemed possible that he could ditch his eponymous brand and start somewhere fresh. Clearly, Curry Brand means something to its namesake and will start a new chapter with Li-Ning.
Loser: Davidson University
The Davidson College Wildcats first partnered with Under Armour in 2016. The men's and women's basketball teams have worn Curry Brand gear since the 2020-2021 season. In December 2025, The Davidsonian reported that the athletic department would review its partnership with Under Armour. Perhaps Li-Ning finds a way to keep Davidson under the Curry Brand umbrella, but that is far from certain.
Winner: Li-Ning
Li-Ning is about to enjoy the same boon in the basketball world as ANTA did when it partnered with Kyrie Irving in June 2023. Curry will move sneakers in China and provide a foothold in the North American markets for Li-Ning.
The two partners have already announced future plans for Curry Brand stores in China and the United States. Not to mention, having the greatest outside shooter of all time joining your roster is no small feat.
Loser: ANTA
Speaking of ANTA, they always felt like a legitimate landing spot for Curry. Since taking over as the Chief Creative Officer of ANTA Basketball, Irving has elevated the brand to new heights and recruited NBA stars.
Curry even debuted the ANTA KAI 3 for the injured Irving earlier this season. Meanwhile, Curry's former teammate, Klay Thompson, just signed a lifetime sneaker deal with ANTA in February 2026. ANTA offers the same infrastructure as Li-Ning, with over 10,000 stores in China and a growing presence in the United States.
Winner: Nike
Curry rocked Nike heavily throughout the season. That included shoes from Kobe Bryant, Devin Booker, Kevin Durant, Sabrina Ionescu, and his own original shoes from 2010. However, Nike did not need (and maybe couldn't afford) Curry. The American brand already has too many active signature athletes with more on the way. But Curry wearing Nike makes it feel like the brand is absolved of its infamously bad pitch meeting in 2013.
Loser: adidas
Curry wore adidas on a handful of occasions. He wore a mix of new shoes from James Harden and Anthony Edwards, plus some retro models from Candace Parker, Tracy McGrady, and Kobe Bryant. Adidas even designed player-exclusive shoes for Curry to wear at the 2026 NBA All-Star Game. It was always a long shot, but adidas seemed like a serious contender to sign Curry.
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