• German sportswear giant had signed a contract until 2019
• BBC reports decision could cost governing body millions of dollars
Adidas has written to the IAAF to inform athletics’ embattled governing body it is terminating its sponsorship deal three years early, according to reports.
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 reportedly inform the IAAF that it will be pulling out of the deal.
Adidas would only say that it “has a clear anti-doping policy. Therefore, we are in close contact with IAAF to learn more about reform process”.
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.