Monday, 25 January 2016

Adidas End IAAF Sponsorship

The German sportswear company signed an 11-year agreement with the International Association of Athletics Federations in 2008 reported to be worth around £23m. But the BBC reported that the ongoing doping and corruption scandal has prompted Adidas to inform the IAAF that it will be pulling out of the deal. Neither Adidas nor the IAAF has made any comment.

According to the report, the move will result in tens of millions of dollars in lost income. The BBC claims the IAAF was told Adidas was considering ending its relationship with them in November after the publication of the World Anti-Doping Agency (Wada) Independent Commission’s first report, which detailed claims of “state sponsored doping” within Russia.

The BBC, citing anonymous sources, said the sponsorship deal, signed in November 2008, was worth around $8m (£5.61m) per year.

The IAAF said it was in close contact will all its sponsors and partners as it embarked on reform.

Adidas is one of the IAAF’s “Official Partners” along with Canon, Toyota, Seiko, TDK, TBS and Mondo.

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