Under Armour Inc. (UAA) isn't giving up on the sneaker businesses. The company announced that it has signed Dallas Mavericks rookie point guard Dennis Smith Jr. to a three-year footwear and apparel deal.
The deal is worth about $2 million annually with incentives, according to ESPN.
"I am definitely excited to be a part of team Under Armour as I get ready to go into [training] camp for my rookie year. Under Armour is an explosive brand in basketball right now, and I'm excited to join Stephen [Curry] and Seth [Curry] and the team at UA in making our mark together," Smith Jr. said.
Earlier this year, Under Armour also signed fellow rookie Josh Jackson of the Phoenix Suns.
Under Armour shares were up 2.32% to $18.99 in afternoon trading Tuesday.
More of What's Trending on TheStreet: