Sports manufacturer Puma said it will no longer sponsor the Israeli national football team next year in what the Boycott, Divestment and Sanctions movement has claimed as a "win".
A spokesperson for the German sportswear firm confirmed the decision on Tuesday.
In an email statement to Reuters, the spokesperson said: "While two newly signed national teams - including a new statement team - will be announced later this year and in 2024, the contracts of some federations such as Serbia and Israel will expire in 2024.”
The brand said it was a decision taken in 2022 as part of Puma's new "fewer-bigger-better strategy" but stressed it was unconnected to the boycott.
Puma has long faced pressure from activists who have called for a boycott of the sportswear firm over its sponsorship of the Israeli team.
Following the news from Puma, the BDS Movement wrote on its website: "The years of relentless, global BDS pressure on Puma and the damage to its image should be a lesson to all companies supporting Israeli apartheid.
"We thank the hundreds of grassroots solidarity groups, athletes and teams across the world who supported the call from 215 Palestinian teams to boycott Puma."