I mean, think about the impact that COVID had on the economy. Think about all the struggling businesses. Now I don't have any insight into Saucony's performance in particular, but it doesn't seem all that ridiculous to think that they might have realized slightly lower revenues for FY20 and are trimming back the marketing budget a little for FY21. Top of that list would be distance runner salaries (I would guess). It is unfortunate, but that's life. Luckily, it is a free market, and if they have value to offer a company (which they do), then they will get another contract offer (which they did).
Personally, I'm looking forward to Puma getting serious in the distance running shoe market. The high stack height carbon plate shoes really mess with my feet and knees, so I would welcome some new options.