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Marketing and Sponsorship

Asics Replaces Adidas As IAAF's Official Sponsor

Japanese sportswear company Asics Corp. will reportedly take over from adidas "as the official sponsor" of the Int'l Association of Athletics Federations, according to Mitch Phillips of REUTERS. The IAAF announced the deal on Saturday. Adidas, which signed an 11-year sponsorship deal with the IAAF that was set to run until '19, said on Friday that "it was ending the deal three years early." In a statement, the company said, "Adidas and the IAAF have agreed to terminate their existing partnership agreement in mutual agreement at the end of 2016." The 11-year sponsorship deal was reportedly worth at least $33M. News of its expected termination initially emerged at the end of '15, "at the height of the IAAF's corruption scandal" (REUTERS, 12/2). XINHUA reported the announcement came on the day when an IAAF special congress "overwhelmingly" passed President Sebastian Coe's reform package in Monaco. Asics, whose deal with IAAF was brokered by the ruling body's long-term commercial partner Dentsu Inc., "now sits alongside with Canon, Seiko, TDK and Toyota as the IAAF's five official partners," with Mondo its official supplier (XINHUA, 12/3).

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