Golden State Warriors star Steph Curry and sneaker giant Under Armour have ended their longstanding partnership. According to NBA insider Shams Charania, the Curry Brand will now operate independently from Under Armour, which currently has a market capitalization of $1.94 billion, according to Forbes.
Curry has been associated with Under Armour since 2013, and together they launched the Curry Brand in 2020, producing popular sneakers and apparel. With this recent announcement, the four-time NBA champion will become the sole owner of the Curry Brand and now has the freedom to choose a new retail partner.
**Under Armour’s Restructuring & The Split**
Under Armour is currently undergoing major restructuring efforts, as its shares have fallen by about 40% this year. While the exact reason for the split remains unclear, Under Armour released a statement on Thursday:
“Under Armour, with a disciplined focus on its namesake brand, will develop new UA Basketball products and continue to support athletes and programs across every level of the game.”
In addition, Under Armour’s board has approved an extra $95 million for its restructuring plan. The company now estimates total restructuring costs at around $255 million, covering the Curry Brand separation, contract terminations, impairment costs, and severance.
The Curry 13, which will be the final Curry Brand shoe released in partnership with Under Armour, is scheduled to launch in February.
**A Look Back: Steph Curry’s Under Armour Deal**
Steph Curry first signed with Under Armour in 2013. According to CNBC, Curry’s initial contract earned him $4 million annually. In 2023, Curry signed a long-term extension valued at $215 million, which made him president of his signature brand. As part of the deal, he also received 8.8 million shares of Under Armour, valued at $75 million at the time.
Curry’s impact on Under Armour’s brand recognition is widely acknowledged—his decision to join Under Armour over the larger Nike in 2013 surprised many in the sneaker world.
**What’s Next for Curry and the Curry Brand?**
With Curry now in full control, speculation abounds regarding his next move in the sneaker industry. Industry observers believe he could partner with emerging footwear brands such as On or Hoka, both of which have seen significant growth in recent years.
Stay tuned for updates as Steph Curry embarks on the next chapter for the Curry Brand and the global sneaker market.
https://www.sportskeeda.com/basketball/news-did-steph-curry-s-under-armour-deal-get-terminated-1-94-billion-sports-giant-s-surprising-decision-warriors-legend-explored
