Usain Bolt, Puma Extend Endorsement Agreement Through '16 Rio Olympics
Gold Medal-winning Jamaican sprinter Usain Bolt has "renewed his long-standing sponsorship deal with Puma" through the '16 Rio Olympics, according to Keith Weir of REUTERS. Bolt has "been with Puma for a decade and the renewal of the contract with the sport's most marketable figure is a fillip for a brand struggling to keep pace with larger rivals Adidas and Nike." New Puma CEO Bjorn Gulden, who took the job in July, had "made the renewal one of his initial priorities after the company cut spending on other sponsorship deals." Financial details of the agreement were not disclosed (REUTERS, 9/24). The BBC notes Bolt in '10 last renewed "what is considered to be the biggest sponsorship deal in athletics." He had "earlier indicated he may retire" after the '16 Games, but recently said that he "may compete for a year after that." In addition to its deal with Bolt, Puma also "has a longstanding commitment to Jamaican Track & Field" (BBC.co.uk, 9/24).