The biggest scandal in marketing history: When Nike lost 14 billion for not renewing Curry!

OR Nikemainly thanks to Michael Jordanis one of the largest, if not the largest, sporting goods company. Many of the world’s greatest athletes, such as LeBron James, Kevin Durant and Cristiano Ronaldo they have life contracts with her. Nevertheless, as happens in… the best families, Nike made a huge “gela” with his case ten years ago Steph Curry!

THE four-time champion and billion MVP of the NBA entered the league as a huge prospect, but by 2014 he had failed to live up to the high expectations, dealing with major injury problems. It is characteristic that in the 2011-12 season he played in only 26 matches, while in general his statistics were not impressive.

OR Nike had made sure to sign him with his draft pick from the Warriors, with a contract until 2013. When that ended, the company had the ability to not only propose that Curry renew, but also to match any offer from other “suitors.”

And there begins one of the biggest “gels” in the history of marketing. Nike invited Steph along with his father (and veteran NBAer) Del Curry so as to explain to them the plan they had for the young guard at the time. Very quickly, however, the top shooter of all time realized that the company was not… eager to renew him, and had just prepared a very sketchy presentation to convince him.

In fact, the information says that one of the representatives of Nike called Curry “Stephen” not “Stephen” as is his normal name! The company also refused to offer him the “golden” benefits it gave other budding stars like Anthony Davis and Kyrie Irving. Her final offer was 2.5 million dollars per year, but Curry and his father refused, considering that the young man based on talent and image deserved much more money.

Somehow, she came into play Under Armour. The significantly less valuable company than Nike went with the logic of “high risk, high reward” and offered Steph $4 million a year, even though he had been plagued by injuries and had never managed to lead the Warriors to the playoffs.

One would say that this move was justified, as Mr Steph Curry developed into one of the greatest players of all time, with 4 NBA championships, two MVP awards and now an Olympic medal! Through this, the Under Armour saw its share price rise from $47 a share to now $120, while its total value doubled from 14 billion to 28!