There likely won’t be any shortage of potential suitors for Stephen Curry‘s brand now that it is parting ways from Under Armour Inc. in 2026.
The Under Armour and Steph Curry partnership has changed over the years, with the Curry brand coming into its own in 2020 and the apparel and shoe brand giving the athlete a lifetime deal in 2023. But after 12 years — the original deal was signed in 2013 — sales of the Curry brand have shifted too, and Under Armour is also in the midst of a major restructuring to turn around operations.
Where Steph Curry could take his brand, and how much might a deal be worth, isn’t clear. According to Telsey Advisory Group’s (TAG) Cristina Fernández, the Curry brand has several athletes signed under it, “most notably De’Aaron. Fox whose latest signature shoe the Curry Fox 2” having just launched. She pointed out that even though Under Armour has agreements with these athletes, the basketball star has right of first refusal. That means that Steph Curry could take the athletes with him.
“The separation of the Curry brand is not expected to have a significant impact on Under Armour’s profitability,” the analyst said. That’s an indication that sales for the Curry brand have decelerated, and perhaps a sign that the contract also was a big expense for Under Armour.
So who might be the next partner for Steph Curry?
“While Nike and Adidas could be interested in the Curry brand, we also see New Balance, Puma, Reebok, Anta Sports and Li-Ning as potential suitors,” the TAG analyst said.
Some on Wall Street, including Fernández, believe that the Under Armour and Steph Curry partnership never materialized to its full potential. And while ending the partnership will give Under Armour the benefit of some cost savings, Fernández said the move isn’t without some risks.
“Without the Curry shoe, it will make it harder for Under Armour to gain more shelf space in specialty footwear retailers like Foot Locker,” she noted. The analyst added that the loss of its “most recognizable and commercial athlete” means that there’s also risk that Under Armour might find it hard to sign other notable athletes in the future, particularly in basketball.
That said, she pointed out that the company is making progress in rationalizing its stock-keeping units, as well as reducing promotions and cutting costs.
When Under Armour posted second quarter earnings results a week ago, its founder, president and CEO Kevin Plank said the company has streamlined assortments and cut about 25 percent of its stock-keeping units. The company has also refocused its materials library by prioritizing fabrics Under Armour can be famous for along with working to bring innovation and style back to its core, ingredients Plank said that “made Under Armour globally famous to begin with.”
“In footwear, we’ve addressed our contraction by refining our strategy and sharpening our aesthetic. We are not accepting the current state of the business. Our plan is straightforward: build on the franchises that are already successful and return to growth in the upcoming seasons. We’re leveraging our momentum,” the CEO said.
And he said Spring/Summer ’26 will be where Under Armour gets stronger and will showcase more innovation. Upcoming are the $160 Velociti distance run shoe, the next generation Shadow and Magnetico football boots and the Dry Pro clone golf shoe featured on Jordan Spieth, among other upcoming launches.
Plank also said that the new products represent “athlete-driven innovation.” He described the changes in how the company innovates, designs and connects with the younger generation as a redefining of how athletes perceive the Under Armour brand.
Jefferies analyst Randal Konik described that restructuring initiatives as founder Kevin Plank move towards “getting back to basics [and] we like it.”
And Williams Trading analyst Sam Poser said his retail checks show that young consumers have begun to “gravitate to the Under Armour brand,” another indication that the company is moving in the right direction.
Under Armour last week posted a second quarter net loss of $18.8 million on revenue of $1.33 billion. It will continue to sell the Steph Curry brand throughout most of 2026.
While Under Armour may have parted ways with its most famous star athlete, it still counts other big-name stars — all experts in their own fields — as part of its roster. They include marathon runner Sharon Lokedi, NFL Tennessee Titans football quarterback Cam Ward, and WNBA star Nika Mühl, among others.