Brendan Sullivan will succeed Murray as president of Nautica and Kipling for the company.
The logistics firm also plans to purchase additional brands in the future to add to its portfolio.
The limited-edition line, which launches on Monday, January 16, commemorates the New York Knicks’ 70th Anniversary.
The 23-year-old will wear the company’s apparel on and off the course.
The license will be effective beginning in the fall of 2017.
The newly inked deal means Under Armour will replace Majestic and Nike beginning in 2020.
Each collection is inspired by a song from Jay Z’s first album “Reasonable Doubt.”
He will work on the company’s Robert Graham, Hudson and Swims brands.
The designer and retailer strike a balance between an artistic approach and a production-friendly line made in the U.S.