The ongoing uncertainty of Newcastle United's takeover saga and the disillusionment of fans could make Puma happy to 'walk away' from their current kit deal.
That's the view of football finance expert Kieran Maguire, who believes the manufacturers will have been disappointed by the lack of growth in the decade-long partnership.
Reports last week in Sportscal claimed relative newcomers Castore had struck a £5m per year deal to provide United's kit from next season.
Puma - who have designed the Magpies kits to a mixed reception from supporters since 2009 - signed a rolling extension this summer but have now reportedly been replaced.
Maguire - an author and lecturer at the University of Liverpool - reckons the continuing uncertainty and unrest surrounding the club could mean the manufacturers would be happy to move on from the long-standing partnership.
He told ChronicleLive: “When Puma agreed the long-running deal, they would have been hoping for growth.
"Nobody knows the exact numbers, but it's fairly evident talking to Newcastle fans that they are so disillusioned. That manifests itself in terms of kit boycotts, so when Puma look at the lack of growth in terms of units of sale, that's not what they were hoping for.
"I suspect as a result, they will be looking to quietly move on. This particular relationship didn't work out, and the poor relationship between Mike Ashley and the fanbase is a significant contributory factor to that.
"The rolling deal gives Puma, if they think Ashley is going to be around for a long time, the chance to walk away.”
Castore only formed in 2016, and their first foray into manufacturing football shirts raised complaints among Glasgow Rangers supporters this summer.
United fans have long been indifferent to Puma's recent black-and-white designs, and supporters on social media have speculated on leading brands such as Adidas and Nike taking on the mantle.
However, Maguire believes the current instability surrounding both the club and the Covid-afflicted economy could lead these brands to swerve a deal with the Magpies.
He explained: "If you take a look at the major brands, they are looking for those clubs who are going to shift units.
"The one thing we have under Ashley is continuing uncertainty, the club has been up for sale for God knows how many years.
"Every few months, people get their hopes up only to have them dashed again. We end up on this roller coaster.
"If you were working for Adidas or Nike, what you'd want is certainty, especially in a Covid-world.
"The last thing you need is to sign a deal with a potentially big-selling brand such as Newcastle, only to Ashley to do nothing or for another sale of the club to fall through.
"From the manufacturer's point of view, they'd see it as 12 months lost. Yes, they'll sell units but nowhere in the numbers they would have liked.
"Therefore it probably wouldn't justify the price probably being asked for by the club.”
