Why Not Anta? A Few Thoughts on Steph Curry’s New Li-Ning Deal
New information from China sheds additional light on how Curry ultimately landed with Li-Ning
A little online research will reveal to you that Dwyane Wade’s contract with Li-Ning is believed to be $10 million per year for ten years, plus an equity stake. That puts one Wardell Stephen Curry II at four times that value with his new Li-Ning deal at $400 million (per Shams Charania of ESPN).
Also, shame on you if you believed that $1.9 billion fake tweet garbage! 😂
I think we can assume there is similarly an equity stake from Li-Ning for Curry, as well, although to my knowledge there has not yet been a report to confirm or deny that. He certainly had one with Under Armour, as its poor performance on Wall Street recently ultimately led to Steph severing the partnership with UA.
I’ve been told by sneakerhead sources in China — similar, but not the same as the one who broke the news to me years ago that Curry would have his own brand — that Li-Ning, ANTA and Nike all had submitted offers to Steph.
Li-Ning came back around one more time and increased theirs. It was still not as much as Anta and Nike’s, as Charania confirmed Curry “passed on more money from another company” in this podcast segment with Tracy McGrady:
Li-Ning is well-respected by diehard basketball performance aficionados for its innovative design and feel. I’ve been told that, other than the Kai series led by Kyrie Irving, ANTA’s basketball products “can’t compare” to Li-Ning at this point.
My own experience with the Klay Thompson’s signature “KT” line would also seem to confirm that, as I always found those shoes to be bulky to walk around in, let alone play basketball, albeit very original in its design and actually rather unique and eye-pleasing, overall.
But… clunky, indeed. Thompson was never really of the ankle-breaker archetype of basketball player, though. You can get away with wearing stiff shoes if you are just going from Point A to B, where B = catch-and-shoot.
Still, when news broke that Steph had signed a massive new deal with Li-Ning, my first reaction wasn’t surprise that he chose a Chinese brand.
My surprise was that he chose Li-Ning instead of Anta, whose market capitalization, global revenue, brand reputation as a result of recent acquisitions of Puma and Wilson, and sheer number of retail stores across China actually dwarf that of Li-Ning.
But it “was not about the money,” my source said.
If you’ve followed the basketball shoe industry at all, you know that Anta is a giant. Their footprint is enormous and they already have an impressive roster of NBA athletes, including quite famously former Splash Brother Klay. On paper, Anta looked like a natural landing spot for Curry.
But the more I thought about it, the more Li-Ning made sense. For one thing, Steph has rarely been attracted to the safest path. Throughout his career, he’s consistently aligned himself with growth opportunities rather than established hierarchies.
That’s essentially what happened when he left Nike for Under Armour over a decade ago. He wasn’t interested in being another athlete in someone else’s ecosystem. He wanted to help build something.
Just listen to him in this recent Instagram Reel — from the GOAT Movie premiere in LA — talking about his underdog experience at Davidson:
Li-Ning feels similar. While Anta is the larger company, Li-Ning still has room to grow globally, particularly in the United States.
In fact, here’s what Ernie Plascencia tweeted after Curry’s announcement — Ernie happens to be the right-hand man of Jimmy Butler, who also has a signature line at Li-Ning:
The company already has a strong reputation among serious basketball shoe enthusiasts. Many sneaker reviewers consider Li-Ning’s Way Of Wade line to be among the best in the world.
In other words, Steph isn’t joining an unproven brand. He’s joining a respected brand that still has another level it can reach.
There’s also the athlete roster to consider. Anta already has Irving as its flagship guard. Kyrie is one of the most influential basketball shoe athletes on the planet and his signature line has become a centerpiece of Anta’s basketball strategy. From a branding perspective, it may not have made sense for Steph to share that spotlight.
Li-Ning, on the other hand, offers Curry a clearer lane. Maybe that’s the simplest explanation of all. Sometimes the best partnerships happen when both sides are at exactly the right point in their growth.
Steph is one of the most recognizable athletes in the world, while Li-Ning appears eager to expand its global presence and strengthen its position in the United States. That combination feels less like a traditional endorsement deal and more like a strategic partnership.
As we’ve seen throughout Curry’s career, he has a habit of finding opportunities where others see risk. This one may end up being another example.
🫶💙💛