Roc Nation Rides Alliance Into Football NBA Signs Marriott For Int'l Games Berlusconi To Sign Binding Pre-Accord BCCI Sells Title Rights For $32M Football League Partners With Liftshare Marketplace Roundup Agag Looks Back At Inaugural FE Season Providence, WPP To Take Over Chime BMW Rules Out Formula E Entry Herrera Removed From TV Commercials
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/February 18, 2013/Marketing and Sponsorship
Puma To Terminate Sponsorship Deals With Sailing, F1 As Part Of Restructuring Effort
Published February 18, 2013
SAIL AWAY: REUTERS' Victoria Bryan reported Puma is to stop sailing sponsorship deals, including teams in the Americas Cup and the Volvo Ocean races, "as part of efforts to focus on sports and products that bring in the most money." Puma, which on Thursday reported '12 profit down 70%, "is going through its biggest reorganisation in 20 years to counter falling profits and encourage more people" in the U.S., Europe and China to buy its shoes and T-shirts. The group is closing stores, cutting products and last month said that "it would stop sponsoring rugby, leaving the Irish rugby union team looking for new kit." In sailing, Puma "will stop sponsoring the Oracle team, current holder of the Americas Cup," after the '13 season (REUTERS, 2/14).
RED BULL: HORIZONT's Jessica Mulch reported Puma "will terminate its sponsorship deal with F1 team Red Bull Racing." A Puma spokesperson said the decision is based on "marketing-strategic reasons." Puma has been Red Bull's official outfitter since '07. However, Puma "will keep F1 in its sponsorship portfolio as it is also the official outfitter of F1 team Scuderia Ferrari" (HORIZONT, 2/11).