Shares of Under Armour (UAA) are down 2% on Nov. 14 after the sneaker and athletic apparel maker announced that it has ended its endorsement deal with NBA basketball star Steph Curry.
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In a news release, Under Armour said that the company and Curry have mutually agreed to end their 13-year partnership effective immediately. No reason for the break-up was given. But the sudden split separates Curry Brand, which makes basketball shoes and apparel, from Under Armour at a time when the sportswear company is struggling to revitalize its sales.
Steph Curry maintains sole ownership of the Curry Brand that he launched with Under Armour and is free to find another retail partner and pursue new endorsement deals, said Under Armour. The final Steph Curry shoe with Under Armour, called “the Curry 13,” will be released in February 2026.
Surprise Decision
“For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround,” said Under Armour CEO Kevin Plank in the press release. “And for Stephen, it’s the right moment to let what we created evolve on his terms.”
News of the break-up between Steph Curry and Under Armour comes as a surprise. Curry shocked the sports world in 2013, when he signed a long-term endorsement deal with Under Armour rather than Nike (NKE). The Curry brand is expected to bring in between $100 million and $120 million in revenue for Under Armour in the current fiscal year, said the company.
Widely regarded as one of the greatest three-point shooters in basketball history, Steph Curry has won four NBA championships. UAA stock is down 45% this year.
Is UAA Stock a Buy?
The stock of Under Armour has a consensus Hold rating among 19 Wall Street analysts. That rating is based on three Buy, 13 Hold, and three Sell recommendations issued in the last three months. The average UAA price target of $5.58 implies 22.10% upside from current levels.
