Puma SE has decided to terminate its sponsorship of Israel's national football team after 2024, according to a Bloomberg report.
The decision to end its partnership was made late last year as part of Puma's new “fewer-bigger-better” strategy and is unrelated to the country's war in Gaza, Bloomberg reported, citing an emailed statement.
Accordingly, Puma will also let its contract with Serbia's football team expire next year and will introduce two newly signed sponsorships later this year and in early 2024, it said.
After the former CEO Bjorn Gulden joined its rival Adidas AG, Arne Freundt took over the leadership of Puma in November 2022.
Meanwhile, the sports brand is currently a sponsor of several national teams, including Austria, Iceland, the Czech Republic, Ghana, Ivory Coast, Senegal, Morocco, Egypt, Serbia, and Switzerland.
They have also signed big names like Neymar Jr., Kai Havertz, and Christian Pulisic in football, and since the beginning of the 2021–22 season, Puma has been the official partner of the English Football League (EPL).
Apart from football, Puma has a presence across different sports with the sponsorship of individual athletes and teams.
The Financial Times earlier reported on Puma's decision to end the Israel sponsorship.
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