The sneaker business saw an unexpected upheaval in mid-November. With almost no warning, Stephen Curry ended his 13-year-long partnership with Under Armour. After they see the final campaign through in 2026, the Warriors star is taking the Curry Brand elsewhere. And almost immediately, he’s sent out feelers. When the Dubs arrived in Florida for their back-to-back schedule, two franchise legends got special nods through Curry’s sneaker choices.

Before the tribute moved Dwyane Wade, he was still reeling from the breakup news. Wade, one of the few, like Michael Jordan and Steph Curry, to have their own subsidiary brand under a parent company, didn’t even see this shakeup coming! He told his co-host, Bob Metelus, that this week on The Timeout.

“No, I wasn’t paying attention. I wasn’t looking for it to come. It’s, you know, you don’t think about that when it comes to Steph Curry,” was D-Wade’s initial response. Most of us felt the same since the Splash Bro toured Asia for his Under Armour-backed camp this summer. But the Heat legend spoke about certain “rumblings.”

“First of all, the whole industry is struggling when it comes to the sneaker community.” That’s a fact, but he’s also saying it from experience. “I know ‘cuz I’m in it, right? So, I understand, like, I’ve seen my numbers. I’m like, ‘Ooh.'”

D-Wade has his own brand, the Way of Wade, under the Chinese retailer, Li-Ning. He left Nike a year before Curry did to sign with them. Way of Wade’s sales aren’t public information, but it was once among the top 10 richest sneaker deals before he retired in 2019, after LeBron and MJ’s Nike contracts.

LeBron James’ Nike sneakers were never that popular, and Kobe Bryant‘s performance sneakers are geared to athletes, anyway. Comparing both of them to the Jordan Brand, which is more of a lifestyle shoe, and even that’s facing significant competition… Under Armour was once slated to surpass the Jordan Brand. Then, things suddenly went downhill, and now athleisure brands like Lululemon dominate the market.

Most speculate that UA’s recent problems are why Steph Curry is choosing to run his eponymous brand on his own. But he will likely need a retail partner going forward.

Why Stephen Curry’s decision likely reflects an ongoing sneaker industry problem

When Dwyane Wade says the industry is down, it’s down. The global sneaker market is worth approximately $91 billion. Nike and the Jordan Brand each hold the largest share of it. Yet they reported a loss this quarter. There are many reasons for the problems, but Under Armour’s decline has predated them.

UA saw e-commerce revenue decline 25% in the first quarter of 2025. It’s facing a 12% decline in direct-to-consumer sales. Most of it is attributed to the company dropping its formerly successful, aggressive marketing strategy.

Curry infamously got mad at Nico Harrison’s team and left Nike. Years later, he reportedly became angry at UA execs for not promoting his sneakers effectively and almost threatened to quit. Together, they then launched the Curry Brand in 2020. UA never picked up its old marketing strategy, though.

As D-Wade put it, “The whole industry is struggling. And there’s a lot of different reasons why, but no, you don’t think about that when you think about one of the greatest players, right, to play. And he’s been with Under Armour for 13 years, that the deal can come to an end, but it did and it has.“

Given the circumstances, Wade sees the practicality of Stephen Curry ending the contract. Since he owns all the intellectual property and licenses, the initial speculation was that he’d take the Curry Brand to Nike. But somehow, the Heat legend or this other player could change the industry.

The Splash Bro wore vintage Shaqnosis sneakers when the Dubs played against the Orlando Magic on Tuesday. The namesake himself, with the only number hanging in the rafters of Magic’s arena, loved it. In fact, Shaquille O’Neal offered Stephen Curry an inroad into Reebok, and hasn’t hesitated to talk about it too.

Curry was ruled out of the following game against Miami but still arrived in Kaseya Center wearing another vintage sneaker, the “Stingray” Way of Wade 1s, D-Wade’s first sneaker under Li-Ning, launched at the 2013 All-Star game. Wade was moved by the gesture but stopped short of offering a partnership with Li-Ning. Maybe he should take his cue from Shaq and make a move!