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Adidas to cut short IAAF sponsor deal – BBC

Jan 28, 2016 According to media reports, German sportswear company Adidas AG reportedly ended its 11-year sponsorship deal with the International Association of Athletics Federations (IAAF).

Adidas, the biggest sponsor of the sport’s governing body, discontinued their contract as a result of the doping and corruption scandal that has engulfed the sport.

Commenting on the situation, Matthew Beesley, head of global equities at Henderson Global Investors said:

“If this is true and Adidas are pulling out on their sponsorship with the IAAF this will clearly be a sign of them baulking in the face of what has been a continual stream of very negative news flow in the athletics industry which of course is potentially important for Adidas given where they sit relative to Nike. More interesting I think as an equity investor is the appointment of a new chief executive at Adidas, the former CEO of Henkel. Adidas has been a company that has generally lagged Nike both in terms of profitability returns and indeed growth. So the opportunity for Adidas to steal a march on Nike under new leadership, perhaps reposition itself away from some of these controversies as relates to athletics, clearly could be quite meaningful”

409 thoughts on “Adidas to cut short IAAF sponsor deal – BBC”

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