Under Armour and Steph Curry Part Ways as Final Shoe Launch Looms

Under Armour and NBA star Steph Curry have announced their split, coinciding with the upcoming launch of the Curry 13 basketball shoe, set for release in February 2026. This shoe marks the final collaboration between Curry Brand and Under Armour, as the sportswear giant grapples with significant financial implications resulting from the separation.

The split involves a staggering £73 million ($95 million) in restructuring costs, a figure that closely mirrors the expected annual revenue of Under Armour’s entire global basketball division, projected to be between £76 million and £91 million ($100 million to $120 million) for fiscal 2026. The financial burden underscores the challenges Under Armour faces as it navigates a period marked by declining sales and increasing competition.

In an official statement, Kevin Plank, founder and CEO of Under Armour, articulated that this decision reflects a need for “discipline and focus on the core UA brand during a critical stage of our turnaround.” His remarks highlight the company’s struggle, which has seen eight consecutive quarters of declining sales and an 87% drop in share price since its peak in 2015.

The separation from Curry Brand adds to Under Armour’s mounting financial pressures, with total restructuring expenses ballooning to £194.66 million ($255 million), surpassing initial estimates of £122.14 million ($160 million). These costs encompass various factors, including contract terminations, asset impairments, and severance payments for employees beyond the Curry exit.

The timing of this announcement is particularly noteworthy. During Under Armour’s most recent earnings call, Curry’s name was conspicuously absent—a first after nine consecutive years of mentions, as noted in transcripts dating back to 2016. This omission suggests a significant shift in the company’s narrative and underscores the strategic shift that Under Armour is embracing.

For collectors and fans, the launch of the Curry 13 in February 2026 is a significant event. Under Armour plans to release additional colorways and apparel collections until October 2026. After this period, Curry Brand will operate independently, allowing Curry to explore new retail partnerships without the constraints of the Under Armour umbrella.

Curry expressed gratitude for Under Armour’s early belief in his potential, stating, “What Curry Brand stands for, what I stand for, and my commitment to that mission will never change; it’s only growing stronger.” This independence mirrors that of sports icon Michael Jordan, whose Jordan Brand transformed basketball marketing.

Looking ahead, Curry has taken proactive steps, signing De’Aaron Fox of the Sacramento Kings as the first signature athlete for Curry Brand beyond himself. This strategy allows Curry to retain “total creative control and freedom to make the brand what he wants,” according to an Under Armour spokesperson.

Under Armour, under Plank’s leadership, has pledged to streamline its operations by cutting 25% of stock-keeping units and enhancing product innovation. The company has also raised its fiscal 2026 adjusted operating income forecast to between £72.52 million and £83.97 million ($95 million and $110 million).

“This move lets two strong teams do what they do best,” Plank remarked, emphasizing that Curry Brand’s newfound independence allows it to shape its future without constraints.

In summary, the impending launch of the Curry 13 serves as both a milestone in Curry’s career and a financial reckoning for Under Armour. The £73 million cost of ending this high-profile partnership highlights the complexities of sports marketing and the challenges faced by brands in a competitive landscape. As both parties move forward, the implications of this split will resonate throughout the industry.