The other shoe just dropped at Under Armour.
Late Thursday afternoon the Baltimore-based sports brand said it was parting ways with its longtime partner, NBA star Stephen Curry. At the same time, Under Armour said it expects to incur an additional $95 million in restructuring charges, bringing the total to $255 million. The previous projection was for $160 million in pretax charges.
Under Armour attributed the additional charges in part to the “separation of the Curry Brand,” along with “further contract terminations, incremental asset impairments and additional employee severance and benefits costs.”
A company spokesperson said there are no additional partner separations or impact to headcount to report at this time.
The company estimated that its total global basketball business, including Curry Brand, will account for about $100 million to $120 million in revenue for fiscal 2026.
The loss of the Curry Brand is not expected to have a “significant effect on its consolidated financial results or profitability,” Under Armour said.
As of result of these decisions, Under Armour is raising its fiscal 2026 adjusted operating income outlook to reflect what it said are the “expected financial benefits of the company’s expanded restructuring and transformation initiatives and ongoing operational efficiency improvements.”
The company is now expecting an operating loss of $56 million to $71 million versus its previous expectation of operating income of $19 million to $34 million. Adjusted operating income is now expected to reach $95 million to $110 million, compared to the prior range of $90 million to $105 million.
The separation of the Curry Brand from Under Armour marks the end of an era for the company. The two had been partners for more than a decade.
Under Armour said it will 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.
“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,” said Kevin Plank, founder and chief executive officer of Under Armour. “Together with our teammates, he helped build something rare: a brand with credibility, community impact, and product that performs at the highest level. 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.”
The stand-alone Curry Brand was launched in 2020 as an extension of the athlete’s longtime partnership with Under Armour. In addition to product, the business invested in youth sports and underfunded basketball programs. It helped Under Armour to expand its Project Rampart youth sports and education initiative to Oakland, Calif. That program will be continued, the company said.
“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,” Curry said. “I’ll always be grateful for that. 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. What Curry Brand stands for, what I stand for and my commitment to that mission will never change, it’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.”
Whether Curry will continue to operate his brand independently or seek a new partner is unknown at this point. The Under Armour spokesperson said he “has total creative control and freedom to make the brand what he wants.”
Under Armour said it will now develop new UA Basketball products on its own.
