Adidas, the IAAF’s biggest sponsor, has told athletics’ world governing body it is to terminate their sponsorship deal four years early, the BBC has reported.
The sportswear giant informed the IAAF of its decision which is understood to be a direct result of the doping scandal sweeping the sport earlier this week.
Earlier this month, the chairman of The World Anti Doping Agency (WADA) Independent Commission, Dick Pound, delivered a second, damning report, which revealed that “corruption was embedded” within the IAAF under former president Lamine Diack.
The 11-year sponsorship deal was signed in 2008 and was due to run until 2019. At the time of signing, it was reported the deal would be worth about $33m (£23m).
It now seems Adidas believes there is too much reputational risk to its brand to continue its association with the IAAF.
Adidas has also expressed its displeasure at the corruption scandal engulfing FIFA, although it remains world football’s governing body’s oldest commercial partner.