Under Armour’s failure to sign Caitlin Clark — even with Stephen Curry personally helping to recruit her — may be the biggest sneaker mistake since Adidas passed on Michael Jordan.
That’s the picture emerging from a new Bloomberg investigation, which reports that the Golden State Warriors superstar grew increasingly frustrated when the brand refused to outbid Nike in its pursuit of the WNBA phenom. According to Bloomberg’s Kim Bhasin and Randall Williams, Curry participated in Under Armour’s pitch to Clark, only to watch the company lose what insiders called a generational basketball opportunity.
“One sore point for Curry was the attempt last year to recruit Caitlin Clark to join his brand,” Bloomberg reported. Despite Curry’s involvement, “Under Armour’s offer trailed the total value of Nike’s pitch.”
The historic recruiting failure reportedly intensified the two-time MVP’s long-simmering concern that Under Armour was underinvesting in basketball at a critical moment in the industry.
Clark was a $100 Million Market Opportunity
Getty Caitlin Clark of the Indiana Fever reacts after a three-pointer.
Insiders believe Clark’s signature sneaker line could become one of the most valuable athletic launches of the decade. In July, sneaker reporter Nick DePaula told Front Office Sports that Clark’s first Nike shoe could generate $100 million in revenue.
That would make her shoe one of the most lucrative women’s products in sneaker history — dwarfing the initial value of her endorsement contract.
Clark’s high visibility, rapid stardom and national endorsements helped fuel what analysts describe as an unprecedented opening in the women’s basketball market. WNBA stars Sabrina Ionescu, A’ja Wilson, Angel Reese and Jacy Sheldon now hold shoe deals, but Clark was widely considered the biggest prize in the industry.
For a decade, Under Armour lagged behind Nike, Jordan Brand and Puma in the women’s basketball space. Clark represented a once-in-a-generation chance to reverse that trend.
Curry Felt Under Armour Failed to Back His Basketball Vision
Bloomberg reported that failing to land Clark only magnified Curry’s concerns about the brand’s investment strategy. The 37-year-old star, who almost single-handedly carried Under Armour Basketball into legitimacy, reportedly grew concerned that the brand was not serious about expanding beyond his own legacy.
“His representatives became frustrated by what they viewed as underinvestment,” Bloomberg reported.
For more than a decade, Curry was the face of Under Armour. He didn’t just wear their shoes — he was their most influential recruiter. He pushed for a Curry sub-brand, helped drive athlete signings, and guided product innovation. Losing Clark after he helped recruit her was viewed internally as a broken promise to his broader vision for basketball.
Curry’s Sneaker Free Agency Is Now the Biggest in the NBA
On Nov. 13, Curry shocked the sneaker world by warming up in Nike Kobe 6 “Mambacitas,” the first time he’d worn non-Under Armour shoes in more than 12 years. Minutes later, DePaula and NBA insider Shams Charania confirmed it: Stephen Curry is a sneaker-free agent.
Under Armour will still release the final Curry 13 model in 2026, and, per Sole Retriever, will even allow Curry to take ownership of his logos and trademarks — an unprecedented concession.
“This is new beginnings,” Curry said after the split. “I’m excited about the future.”
Did Under Armour Lose the Next Michael Jordan Moment?
Clark’s rise is reshaping the sneaker industry. Curry’s exit could reshape it even more. And Under Armour may have lost both — by not spending enough at the right time.
If Clark becomes the biggest women’s star in basketball history, and Curry signs with another brand, Under Armour’s failure could be remembered like the greatest sneaker blunders ever: Adidas passing on Michael Jordan and Reebok losing an 18-year-old LeBron James.
This time, the missed opportunity didn’t just cost a superstar. It may have cost an entire era.
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