Winners and Losers from Stephen Curry's Li-Ning Sneaker Deal

Some brands struck out, while others scored a win with Stephen Curry's new sneaker deal.

Golden State Warriors guard Stephen Curry signed a sneaker deal with Li-Ning. | William Liang-Imagn Images

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

Stephen Curry wears a Curry Brand x Li-Ning jacket. | Curry Brand

The terms of the agreement between Curry and Li-Ning were not made public, but it is safe to assume the future Hall of Famer did well for himself in the market. Curry does not have to let the negotiations drag on throughout 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

Stephen Curry wears the Curry Series 7. | Cary Edmondson-Imagn Images

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

Stephen Curry for Curry Brand in 2022. | Under Armour

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 Wildcats' future with Under Armour is unclear. | David Yeazell-Imagn Images

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

Stephen Curry wears Jimmy Butler's Li-Ning basketball shoes. | Cary Edmondson-Imagn Images

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

Kyrie Irving and Klay Thompson represent ANTA. | Darren Yamashita-Imagn Images

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

Stephen Curry wears the Nike Hyperdunk. | Darren Yamashita-Imagn Images

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

Stephen Curry wears the adidas Anthony Edwards 2. | Robert Edwards-Imagn Images

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.