Adidas, German Sportswear Company, has ended its sponsorship agreement with the International Association of Athletics Federations (IAAF).
“Adidas and the IAAF have agreed to terminate their existing partnership agreement in mutual agreement at the end of 2016,” Adidas said in a statement.
“We would like to thank the IAAF for a successful and professional co-operation and we wish them all the best for the future.
The deal, which was reportedly worth $33million (£26million/€31million), was brought to an end three years early.
IAAF, in a statement, thanked Adidas for its long-standing support while saying they “will shortly make an announcement of a new Official IAAF partner in the same category.”
Adidas, who sponsors several world class athletes, including Olympic Games 400m champion Shaunae Miller, 2011 World 100m champion Yohan Blake, and two-time Olympic Games 200m gold medallist Veronica Campbell-Brown, said it will remain in track and field.
“Adidas will continue to remain committed to the sport of athletics by putting a higher focus on individual athletes as part of its company strategy.”
The IAAF also expressed delight that “While our commercial relationship concludes at the end of 2016, the IAAF is pleased that Adidas remains committed to Athletics.”