Under Armour signs Bryce Harper to new 10-year deal

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Investors are starting to sweat Under Armour’s rich endorsement deals.

The performance apparel company on Tuesday signed Washington Nationals star Bryce Harper to a new 10-year extension. Under Armour didn’t disclose financial terms, but ESPN said it is believed to be the biggest endorsement deal ever for a baseball player.

The endorsement comes on the heels of a similar deal with Golden State Warriors star Stephen Curry, whom Nike had tried to land a couple of years ago.

But baseball stars don’t have the same cachet that hoopsters do when it comes to selling sneakers, which are the focus of most athletic apparel sponsorship deals, said Matt Powell, sports industry analyst for the NPD Group.

“The baseball shoe business is worth about $200 million at retail, while the overall sneaker business is $17.5 billion,” Powell said, “There’s no real return on the baseball deals.”

Under Armour also disclosed late Tuesday that it’s losing both its chief merchandising and chief digital officers.

Shares closed down 2.3 percent, to $42.72.

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