Li Ning Co Ltd

02331: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Li Ning: Curry Deal Carries Steep Price and Narrow Margin for Error, but Global Upside Could Pay Off

Ivan Su

Jun 2, 2026

Li Ning has signed Stephen Curry to a 10-year partnership. While official figures have not been disclosed, media reports suggest a base value of roughly USD 300 million, or USD 30 million per year, about a 50% step-up from Under Armour's previous deal.

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Li Ning Co Ltd

Li Ning: Curry Deal Carries Steep Price and Narrow Margin for Error, but Global Upside Could Pay Off

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