After serving as the face of Under Armour’s basketball line for more than a decade, superstar Stephen Curry and the Baltimore-based company said Thursday evening they’re parting ways.

Under Armour will release the Curry 13 shoe in February, but afterward the two parties will separate — a shocking move in the sneaker world. The Curry Brand, which launched as part of Under Armour in 2020, will become independent.

It appears to be another blow to Under Armour. Amid declining revenue, the company is seeking to flip “that script” and rebrand itself.

But company founder and CEO Kevin Plank positioned the move as one that allows “two strong teams [to] do what they do best.” Instead of continuing to emphasize Curry’s brand, Under Armour will home in on its own product line, he said.

“For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround,” Plank said in a statement. “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.”

Curry said in a statement that 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.”

“I’ll always be grateful for that.”

Under Armour said its total global basketball business will generate roughly $100 million-$120 million in revenue this fiscal year. That’s just a slice of the company’s $5 billion in total annual revenue.

Recently, the company — which became public 20 years ago this month — has returned to its roots and emphasized its ties to football by partnering with the NFL and launching a “We Are Football” campaign.

As part of the separation from Curry, the company’s board approved an additional $95 million in restructuring charges, which includes “contract terminations, incremental asset impairments, and additional employee severance and benefits costs.” Benefits from these actions will be “realized in future periods,” the company said.

“In connection with the separation of the Curry Brand, the company does not anticipate a significant effect on its consolidated financial results or profitability,” Under Armour said in a news release.

Curry wore Nike during the early parts of his career. But, after an infamous botched meeting between Curry and the king of athletic wear, he pivoted in 2013 to Under Armour — a boon for the rival, which, like Curry, was in a period of ascendance.

But, as Curry became a two-time Most Valuable Player, a record-setting 3-point scorer and a four-time NBA champion with the Golden State Warriors, Under Armour’s brand struggled. The company had posted 26 straight quarters of at least 20% growth, but the streak ended in 2017.

That began a period of turmoil and executive turnover. Last year, Under Armour paid out a $434 million settlement after allegations that it masked declining sales to investors.

Curry, who helped revolutionize basketball with his shooting ability, and the sportswear company entered into a “long-term agreement” in 2023. The parties did not say the length and value of that deal, and Under Armour declined Thursday to provide specifics.

At the time, Plank said he “couldn’t imagine Under Armour without Stephen or Stephen without Under Armour.”

During an earnings call last week, Plank emphasized his company’s comeback. He called declining shoe sales “unacceptable” but highlighted this coming sales season as an essential one.

Plank returned to head his company a little over 18 months ago, and he has said it takes about 18 months to comprehensively introduce new products.

“Fall/winter 2025 is when it all starts to show,” he said.

Curry visited Baltimore less than two months ago, taking photographs with Under Armour employees and joking with high schoolers at Carver Vocational-Technical High School. There, he complimented Plank’s leadership.

“I mean, he built this company,” Curry said when asked about his relationship with Plank.

“You can tell his passion, his drive to continue to grow, not only, obviously, the business, but days like this where you understand how it matters. Not just selling shirts and shoes, like he says, but the ability for sports to create a lot of opportunity.”