Adidas ousts Puma to kit Italy soccer team from 2023

Adidas has struck a sponsorship deal with the Italian national soccer team to kit out the European champions from next year, replacing arch rival Puma, the German sportswear group said on Wednesday.

Puma has sponsored Italy since 2008 and will provide their kit for the World Cup in Qatar later this year, assuming the team qualifies for the competition.

In an earnings call with journalists, Chief Executive Kasper Rorsted declined to say how much Adidas was paying for the sponsorship.