Warriors can afford to make a new $ 215 million deal with Stephen Curry

Oakland, CA-April 1: (LR) Golden State Warriors NBA player Stephen Curry on April 1, 2019 at 16th Avenue Station in Oakland, Calif. join. (Photo by Steve Jennings / Getty Images)

Steve Jennings | Getty Images Entertainment | Getty Images

Stephen Curry is one of the few megastars in the National Basketball Association. Now he goes down as the first person to secure multiple $ 200 million or more contracts.

The Golden State Warriors have agreed to another extension with Curry. This time around, it’s a four-year, $ 215 million contract that expires in 2026. agreement. Due to NBA rules, the Warriors will not be able to announce the deal until August 6, but a person close to the issue has confirmed an agreement with CNBC.

At the end of the 2020-21 NBA season, 33-year-old Curry was named the seventh All-Star team, leading the league to score (32 points per game) and shoot 42% from the 3-point range. His current five-year trading of $ 201 expires in 2022, so the Warriors had to deal with this issue. The Warriors are unlikely to leave Curry, and his contract number has become a headline, but the team business allows the contract to handle itself.

The Warriors have protected the league’s best team revenue sources, including $ 20 million in jersey sponsorship annually, by securing curry for the rest of the season and beyond.Brings about $ 500 million each season, according to the Warriors ForbesIs expected to reach nearly $ 700 million annually. Prior to the pandemic, San Francisco’s $ 1.4 billion Chase Center raised over $ 3 million in gate revenue per Warriors game.

The property helped owners Joe Racob and Peter Guber increase the value of the team to the NBA’s highest amount of $ 4.7 billion.they Paid $ 450 million For the 2010 Warriors.

At that time, Curry earned only $ 2 million a year, ending the rookie season.He suffered an injury and competed with the former Warrior protects Monta Ellis For the face of the franchise. Nonetheless, the team played off under Curry’s rule in 2013 after an average of 28 wins each season in the first few years. And as the victories accumulated, the value increased.

Curry led the Warriors to the beginning of the 2015 NBA Finals for the fifth time in a row, winning three championships and two MVPs in the process. Since then, the Warriors business has expanded explosively. The Chase Center promised $ 2 billion in tickets and other contracts related to the building before opening the door, increasing the Warriors’ international appeal, especially across China, the NBA’s top overseas market.

Someone in the Warriors organization owe a basketball executive Rally Riley, A man who drafted curry, thank-you note.

“We have changed from a team that is expected to lose when we are ready to play to a team that has the chance to win first and then the team that is expected to win,” said former team president Rick Welts. .. CNBC in 2019.. “It’s a big change in the Warriors culture.”

Stephen Curry # 30 of the Golden State Warriors will react to the Cleveland Cavaliers later in Game 3 of the 2018 NBA Finals at the Quicken Lawns Arena in Cleveland, Ohio on June 6, 2018.

Gregory Shams | Getty Images

Curry is also dominant outside the court

If he reaches the end of this contact Spottrac Estimates suggest that Curry is approaching $ 500 million in basketball revenue. Of course, taxes are deducted. And he will be 37 by then. So if the curry stays active, you can be more tempted from basketball.

During his time in the league, Curry has helped the NBA’s entire business, including the recent regular season.

NBA play-in games between the Los Angeles Lakers and the Warriors average 5.6 million viewers, Because it featured Curry and fellow megastar LeBron James. The NBA wants to add that concept to its annual schedule to justify higher media rights fees. Curry and James tested the idea in the league, which improved the ratings index surrounding the format.

“You can get a good start by trying to make something special, not only about his athletes and talents, but also who he is,” Welts said. Talked about the charm of Curry.

Curry’s success also helped build his brand out of court.He brings in roughly $ 40 million It is approved and invests in companies such as beverage maker Oxigen. In addition, Curry founded the investment company SC30 and owns a stake in Mos and Guild Education, based in Denver, a San Francisco-based technology company.

“You have to be strategic about it.” Curry told CNBC in August 2020 Seeking an equity partnership. “To manage the future and their relationships, we need to have the right teams in place.”

Curry carries the Warriors brand on crossover occasions, including events such as Turner Sports celebrity golf games. With over 50 million social media followers (Twitter and Instagram), his popularity among a new generation of sports fans is top among male athletes.Curry finished fourth among the top five most lucrative athletes in women’s sports supporters “Fan Project” of Sports Innovation Lab report. Research firms say “Fluid Fans” (people who don’t show an alliance with the team) support Curry’s advocacy of women’s sports and like his character.

The brand of Currys away from basketball has solidified. And with this expansion, the Warriors have placed themselves to take advantage of his remaining time on the NBA’s Megastar landscape.

Warriors can afford to make a new $ 215 million deal with Stephen Curry

Source link Warriors can afford to make a new $ 215 million deal with Stephen Curry

Back to top button