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How Under Armour Lost Its Edge

In the summer of 2018, two top Under Armour executives traveled to the West Coast on a critical mission. Kevin Plank, the sports apparel company’s founder and chief executive, and Patrik Frisk, its president and chief operating officer, needed to persuade Stephen Curry, the Golden State Warriors star and the company’s highest-profile endorser, not to leave the brand.

The two sides had grown increasingly frustrated with the relationship, said two former Under Armour executives familiar with the matter, who spoke on condition of anonymity to discuss the previously undisclosed meeting. In 2017, Mr. Curry took public exception to a comment by Mr.