Puma will end its sponsorship of the Israel national soccer team in a decision made a year ago and which was not connected to calls for consumer boycotts following Israel's military action in Gaza, the Financial Times reported on Tuesday.
The Germany-based sportswear company decided not to extend its contract with the Israel Football Association, therefore as of next year, it will no longer be providing the team with kits, FT reported citing an internal note seen by the newspaper.
Various brands have been impacted by a boycott campaign, accused of endorsing Israel amid its military offensive in the Gaza Strip since the deadly Hamas attack in southern Israel on Oct. 7.
However, Puma made the decision to stop supporting Israel's national soccer squad because of financial reasons and was in line with a broader strategy plan known as "fewer-bigger-better" which aims to promote greater selectivity in sports marketing, the newspaper cited people familiar with internal discussions as saying.
Puma - which is also set to conclude its sponsorship of Serbia's national team next year - intends to keep reviewing all of its current relationships and future prospects. The intention is to keep a strong roster of national teams, the newspaper reported citing the internal note.
Puma did not respond to a Reuters request for comment.