Nike Lost $14 Billion Due to a Costly Misstep with Steph Curry

DENVER – JANUARY 05: Stephen Curry #30 of the Golden State Warriors looks on during a break in the action against the Denver Nuggets at the Pepsi Center on January 5, 2010 in Denver, Colorado. The Nuggets defeated the Warriors 123-122. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Doug Pensinger/Getty Images)

Securing a sponsorship deal with a top athletic brand like Nike is a dream for many athletes. Nike, the leading sports brand in America, has signed some of the biggest names in sports, including LeBron James, Kevin Durant, Tiger Woods, and Cristiano Ronaldo, with some athletes even inking lifetime deals. However, one of the NBA’s top players, Stephen Curry, chose not to join this elite group and turned down an opportunity to sign with Nike—a decision that left many questioning how the brand could have missed such a golden opportunity.

A Missed Opportunity for Nike

For Nike, signing Steph Curry should have been an easy decision. Curry had strong connections to the brand, including his godfather, Greg Brink, who worked for Nike. During his college career, Curry consistently wore Nike shoes, further solidifying his ties to the brand.

Given Curry’s background and potential, it seemed like a no-brainer for Nike to secure a shoe deal with him after he was drafted 7th overall in the NBA. Many assumed that Curry would continue wearing Nike shoes as he embarked on his professional career.

However, despite the seemingly obvious decision, Nike failed to sign Curry, allowing him to slip through their fingers. Curry’s decision to pass on Nike and eventually sign with Under Armour has since paid off for both him and the brand, making him one of the most marketable athletes in the world. The missed opportunity has become a cautionary tale in sports marketing, illustrating how even the biggest brands can make significant miscalculations.

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