German sportswear company Adidas AG is to end its 11-year sponsorship deal with the International Association of Athletics Federations (IAAF) almost four years early, reports suggest.
According to a BBC report, the biggest sponsor of the sport’s governing body has decided against seeing through the remaining period in its contract due to ongoing claims of doping made in December.
Adidas’ refusal to go beyond the agreed business deal is further buoyed by accusations of corruption within the organisation, which is a breach of the agreement it has with the IAAF.
Signed in November 2008, it is worth some $8 million per year, it is believed.
A confirmation of the withdrawal would mean a major setback for the IAAF which continues to fight an image crisis.
Former President Lamine Diack and his son, Papa Massata, are both under investigation by French police over corruption allegations. Both men have denied any wrongdoing.
According to Reuters, calls placed late on Sunday to Adidas and the IAAF were not immediately returned, keeping mute on the BBC report.
Other heavyweight “Official Partners” of the IAAF include Canon, Toyota, Seiko, TDK, TBS and Mondo.
Earlier in January, IAAF president Sebastian Coe said the organisation had a lot of work to do to regain the trust of the public, athletes and sponsors.