Did Steph Curry’s Under Armour Deal Get Terminated? $1.94 Billion Sports Giant’s Surprising Decision on Warriors Legend Explored

Golden State Warriors star Steph Curry and sneaker giant Under Armour have ended their longstanding partnership. According to NBA insider Shams Charania on Thursday, the Curry Brand will operate independently from Under Armour, which has a market capitalization of $1.94 billion, according to Forbes.

Curry has been with Under Armour since 2013. The Curry Brand, which produces sneakers and apparel, was launched in 2020. With the announcement, the four-time NBA champion will now be the sole owner of the Curry Brand and has the freedom to pick a new partner.

Under Armour is amid restructuring efforts as shares have fallen about 40% this year. While the reason for the split is unclear, Under Armour said in a statement on Thursday that it plans to develop a new line of basketball merchandise:

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"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."

Under Armour also announced on Thursday that its board has approved an additional $95 million for its restructuring plan. The sports giant now expects the restructuring to cost around $255 million, which includes the Curry Brand separation, contract terminations, impairment costs and severance.

The company is set to release the Curry 13, the final shoe of the Curry Brand with Under Armour, in February.

Looking at Steph Curry’s Under Armour deal

Steph Curry’s Under Armour deal was first signed in 2013. According to CNBC, Curry earned $4 million annually in his initial deal.

In 2023, the Golden Warriors star signed a long-term extension worth $215 million, which made him president of his signature brand. In addition to other incentives, Curry was given 8.8 million Under Armour shares, which were valued at $75 million in 2023.

Curry has been the face of Under Armour for 12 years and has been credited for putting the brand on the map. The two-time NBA MVP surprised the sneaker world in 2013 when he chose the relatively smaller Under Armour over the more-established Nike.

Pundits and fans expect that Curry might tread a similar path in choosing a new retail partner. He could consider sneakers upstarts like On and Hoka, which have both seen an increase in popularity in recent years.

Edited by Kim Daniel Rubinos