The sportswear giant’s 11-year deal with athletics’ world governing body had been due to run until 2019
Adidas is set to end its sponsorship deal with the International Association of Athletics Federations (IAAF) almost four years early, according to the BBC.
The German sportswear giant is currently listed as one of five ‘Official IAAF Partners’ on the IAAF website, along with Canon, Seiko, TDK and Toyota.
The 11-year sponsorship deal between Adidas and athletics’ world governing body was signed in 2008 and had been due to run until 2019.
The BBC reports that the decision to terminate the sponsorship deal is “understood to be a direct result of the doping scandal sweeping the sport” and that the projected lost revenue for the IAAF over the next four years could be more than £21m.
A statement issued by the IAAF on Monday (January 25) does not mention the Adidas deal specifically, but reads: “The IAAF is in close contact with all its sponsors and partners as we embark on our reform process.”
An Adidas statement, sent to AW by the IAAF, reads: “As you know adidas has a clear anti-doping policy in place. Therefore, we are in close contact with the IAAF to learn more about their reform process.”
In September 2014, the IAAF announced the extension of its commercial partnership with Dentsu until the end of 2029. On Monday, Dentsu’s executive officer Kiyoshi Nakamura commented: “We have full confidence in the new leadership of the IAAF and the reform process being led by current IAAF president Sebastian Coe and the IAAF World Athletics Series remains an important property within Dentsu’s global sports business portfolio.
“At the beginning of December 2015, Sebastian Coe visited Tokyo for a first meeting with Dentsu and several of the Official IAAF Partners which was extremely well received.”