German sportswear giant Adidas has ended its sponsorship agreement
with the International Association of Athletics Federations(IAAF) three
years early, the company said on Friday Dec 02,2016
"Adidas and the IAAF have agreed to terminate their existing partnership agreement in mutual agreement at the end of 2016," Adidas said in a statement.
"We would like to thank the IAAF for a successful and professional co-operation and we wish them all the best for the future. Adidas will continue to remain committed to the sport of athletics by putting a higher focus on individual athletes as part of its company strategy."
Adidas has spent heavily in an efforts to chip away at the U.S. dominance of rival Nike, including collaborations with singers such as Kanye West and Pharrell Williams as well as top sportsmen and women.
The IAAF issued a statement thanking Adidas for its long-standing support.
"While our commercial relationship concludes at the end of 2016, the IAAF is pleased that Adidas remains committed to Athletics. The IAAF will shortly make an announcement of a new Official IAAF Partner in the same category," the IAAF said
"Adidas and the IAAF have agreed to terminate their existing partnership agreement in mutual agreement at the end of 2016," Adidas said in a statement.
"We would like to thank the IAAF for a successful and professional co-operation and we wish them all the best for the future. Adidas will continue to remain committed to the sport of athletics by putting a higher focus on individual athletes as part of its company strategy."
Adidas has spent heavily in an efforts to chip away at the U.S. dominance of rival Nike, including collaborations with singers such as Kanye West and Pharrell Williams as well as top sportsmen and women.
The IAAF issued a statement thanking Adidas for its long-standing support.
"While our commercial relationship concludes at the end of 2016, the IAAF is pleased that Adidas remains committed to Athletics. The IAAF will shortly make an announcement of a new Official IAAF Partner in the same category," the IAAF said
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