Stephen Curry, Under Armour End Alliance As Company Faces Financial Challenges

By Barry Janoff

Curry, Plank in 2023November 13, 2025: In March 2023, Stephen Curry and Under Armour signed what was called a “long-term extension” to their existing deal that was intended to “extend beyond his playing days and into his retirement.”

Curry, who signed with Under Armour in 2013 after leaving Nike and launched the Curry Brand in 2020, was given the title of president of Curry Brand; as well as 8.8 million Under Armour common shares, valued at $75 million at the time, in addition to other awards and incentives, according to industry analysts.

Today, Under Armour and Stephen Curry today unveiled mutually agreed upon plans to separate Curry Brand from Under Armour. Under the separation, Curry will become independent of Under Armour, with Curry maintaining sole ownership of Curry Brand and able to find another retail partner.

"It's been an incredible privilege to work with Stephen, who as president of Curry Brand has been much more than an ambassador — he's become a thoughtful and strategic business leader," Kevin Plank, Under Armour founder and CEO, said via the company. ”Together with our teammates, he helped build something rare: a brand with credibility, community impact, and product that performs at the highest level.”

Under Armour said it would release the Curry 13 — the final Curry Brand x Under Armour shoe — in February 2026 as planned, with additional colorways and apparel collections available through October 2026.

"Under Armour believed in me early in my career and gave me the space to build something much bigger and more impactful than a shoe. I'll always be grateful for that." Curry said via Under Armour. 

“Curry Brand was created to change the game for good and over the past five years, we successfully changed the game for kids, for communities, and for basketball.”

The move comes as Under Armour is facing numerous financial and growth challenges.

Under Armour shares have fallen about 40% this year, according to analysts. 

In just-released finances, the company estimates its global basketball revenue, including the Curry Brand, will be $100 million to $120 million in its fiscal year 2026.

Under Armour said its revenue in North America declined by 8% year-on-year to $792 million and the footwear revenue decreased by 16% to $264 million.

For its fiscal 2026 outlook, Under Armour expects a revenue decrease of between 4% and 5% for the full year, including anticipated declines in the high-single digits in North America.

Looking forward, the four-time NBA champion and two-time NBA MVP with the Golden State Warriors continues to have Curry Brand mirror that of Nike’s Jordan Brand, which continues to thrive even though Michael Jordan retired from the NBA following the 2002-03 season.

Nike reported that sales of Jordan Brand were $7 billion in 2024.

 What Curry Brand stands for, what I stand for and my commitment to that mission will never change,” said Curry.” tI’s only growing stronger.

““I’m excited for a future that's focused on aggressive growth with a continued commitment to keep showing up for the next generation." 

According to Plank via Under Armour, “For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround.

“And for Stephen, it's the right moment to let what we created evolve on his terms. We'll always be grateful for what he's brought to the UA team." 

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