Adidas Seek Early Termination of IAAF Sponsorship Deal

 

German sportswear giant Adidas wants to terminate its sponsorship of the International Association of Athletics Federation (IAAF) four years early following the organisation's doping scandal, according to reports.

The brand signed an 11-year contract with the IAAF in 2008 which is believed to be worth 33million US dollars (£23m).

Adidas have made contact with the IAAF and informed them of their wish to end the contract with the world athletics governing body after only seven years.

According to the BBC, the loss of its main sponsor would cost the IAAF tens of millions of dollars in income.

The news will come as another major blow to the IAAF and its president Seb Coe.

Neither Adidas nor the IAAF confirmed the story but both issued short statements.

A statement from Adidas read: "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."

And the IAAF said: "We are in close contact with all our sponsors and partners as we embark on our reform process."

The IAAF will resist the attempt by Adidas to cancel their contract and talks are ongoing between the two parties.

The World Anti-Doping Agency's (WADA) Independent Commission produced two daming reports in a matter of months in regards to doping.