Athletics: adidas to terminate its contract with the IAAF

The German sports equipment brand adidas is expected to terminate its contract with the IAAF, after the publication of a report by WADA (World Anti Doping Agency) in November 2015, claiming that "corruption was embedded" in Russian athletics, revealed the BBC's website on 25/01/2016. Lamine Diack, the former president of the IAAF (1999-2015), was indicted for accepting bribes in November 2015.

The German equipment supplier will end the partnership, which was contracted to run until 2019. The eleven-year agreement, negotiated in 2008, is estimated at $33m (€30.5m) or $3m (€2.75m) per year. The BBC suggested that, according to their sources, the price of the contract could be as much as $8m (€7.4m) per year. The IAAF suggested, at the announcement of its financial results in August 2015, that it would generate a total of $81.9m (€75.6m) in sales in 2016, following the Summer Olympics in Rio de Janeiro (BRA), double the revenues in 2015 ($42.8m; €39.5m).

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