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The Real MVP Of The NBA Finals? Under Armour CEO Kevin Plank

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The Real MVP Of The NBA Finals? Under Armour CEO Kevin Plank

Fox Business’ Jamal Carnette reported on the implications of the NBA finals on Under Armour Inc (NYSE: UA) after Golden State won the first two games against the Cavaliers, both by at least 15 points.

The finals were not only a battle between the two NBA teams, but one between Nike Inc (NYSE: NKE) and Under Armour, as both of their most popular shoe sponsors played against each other: Lebron James and Steph Curry, respectively. “This year’s finals encapsulate the main themes of the athletic-shoe market: On the one hand, you have the most influential shoemaker, Nike, represented by affable superstar Lebron James. On the other, UnderArmour’s scrappy entrance into the athletic-shoe market is best personified by Golden State’s diminutive superstar, Steph Curry,” said Carnette

Related Link: Under Armour On The Comeback Trail

'The Greatest Endorsement Steal In History'

Under Armor, signed its contract with Curry at a low price, similar to its agreement with Jordan Spieth. “It’s starting to look as if [Under Armour] may have pulled off the greatest endorsement steal in the history of the NBA,” stated the Fox Business writer. “In the company’s last conference call, Plank sounded like one part UnderArmour CEO and one-part president of the Steph Curry fan club.”

Partly due to the contract, Under Armour started off its 20th year with first quarter revenues growing 30 percent. A potentially large impact for a small price: Under Armour signed Curry for $4 million dollar a year, $1 million more than Nike offered at the time.

Posted-In: Cavaliers Fox BusinessAnalyst Color News Sports Events Trading Ideas General Best of Benzinga

 

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