Adidas are attempting to end their sponsorship deal with the International Association of Athletics Federations (IAAF) four years early, Sky sources have confirmed.
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Adidas has been considering ending its relationship ever since the release in November 2015 of the first report of the World Anti-Doping Agency (WADA) that detailed charges of “state-sponsored” doping by athletes in Russian Federation, reports the BBC.
Adidas’ move will add to the pressure on IAAF president Sebastian Coe, who succeeded Diack in August, having been one of his vice-presidents for seven years.
In a report by the BBC, it has been claimed that the IAAF will lose “tens of millions of dollars” as a result of lost income from Adidas’ decision.
Lord Coe has replaced Lamine Diack as IAAF president and has unveiled a “reform roadmap” with a 10-point plan to rebuild the IAAF and the sport itself.
Both Adidas and the IAAF are yet to make any comment.
The sponsorship deal with a lifespan of 11 years was signed in 2008 and was due to run until 2019. At the time of the deal, it was reportedly worth a total of £23m ($33m).
Based on those figures, the IAAF is looking at a loss of around $30 million over the next four years.
Not only did it claim that corruption was “embedded” in the IAAF, it also claimed that leading figures within it must have been aware.
But despite this, Mr Pound voiced his support for Coe, saying he “couldn’t think of anyone better” to lead athletics out of its current crisis.
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Adidas has also expressed its displeasure at the corruption scandal that continues to engulf Fifa, although it remains world football’s governing body’s oldest commercial partner.
