Stephen Curry and Under Armour have had one of the strongest partnerships in sports brands for over a decade, but it is now coming to an end.
The Golden State Warriors point guard and Under Armour announced on Thursday that they will part ways next year, after the release of Curry's next signature shoe. It ends a long-standing relationship that dates back to before Curry won his first NBA title.
Curry has never been a shoe free agent, making him more valuable now than ever before. Here's a breakdown of why Curry is leaving Under Armour.
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Why is Stephen Curry leaving Under Armour?
Stephen Curry is leaving Under Armour after the release of his 13th and final signature shoe, ending a 13-year partnership. Curry is expected to take the "Curry Brand" with him as an independent venture.
"What Curry Brand stands for, what I stand for and my commitment to that mission will never change, it’s only growing stronger," Curry said in a statement, via CNBC. "I'm excited for a future that's focused on aggressive growth with a continued commitment to keep showing up for the next generation."
Curry left Nike for Under Armour in 2013, and became the face of the company's brand as his basketball career exploded. While the pair were synonymous with each other, they will move forward as separate entities.
"For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround," CEO Kevin Plank said. "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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Does Stephen Curry have a lifetime deal with Under Armour?
Curry had been with Under Armour since 2013, and he most recently signed a long-term extension with the company in 2023. It's unclear exactly how long that contract was set to last, but it was expected to keep Curry with Under Armour after his retirement.
How much did Stephen Curry make with Under Armour?
Curry first signed with Under Armour in 2013 for a deal that paid him less than $4 million a year. Then, two years later, the pair agreed to a 10-year extension after Curry won his first NBA title. According to CNBC, that deal was worth $215 million and an equity stake of the company.
In 2023, Curry and Under Armour agreed to their most recent extension, which gave Curry $8.8 million in Under Armour common shares. However, that deal also included the continuation of the "Curry Brand," which was created in 2020 and has increased Curry's value to the company, including when he was named president of the brand as part of his most recent extension.
What is Curry Brand?
In 2020, Under Armour and Curry came together to create the "Curry Brand" as an offshoot of the company that focused solely on Curry's products. The brand was mainly built around shoes but also features other clothing wear and basketball gear.
Now that Curry is parting ways with Under Armour, he will take the "Curry Brand" with him as an independent venture. However, he could shop the brand to other companies with whom he wants to partner.
Stephen Curry Under Armour shoes
In his time at Under Armour, Curry released 12 signature shoes, with a 13th set to come out next year. Once the Curry 13s are released in February, the Warriors point guard and Under Armour will go through with their split.