Puma pull out of Sailing sponsorship

The German sports company Puma is to stop sponsoring sailing, 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.In sailing, Puma will stop sponsoring the Oracle team, current holder of the Americas Cup, after the 2013 season. The group is also closing stores, cutting products and will stop sponsoring rugby, leaving the Irish rugby union team looking for new kit. Puma recently reported a 70% profit downturn in 2012.