Asics Reaches Sponsorship Deal With Global Track Federation
03 December 2016 - 8:20AM
Dow Jones News
The International Association of Athletics Federations has
agreed to a long-term partnership with Asics Corp., according to
people familiar with the matter, giving the global governing body
of track and field a new outfitting sponsor after Adidas AG
terminated its agreement early.
Terms of the agreement weren't immediately available. The IAAF
is expected to announce the partnership with the Japanese
athletic-gear maker on Saturday, during its council meeting in
Monaco. Baltimore-based Under Armour Inc. was also a final bidder
for the sponsorship, the people said.
The IAAF has been dogged in recent years by allegations of
corruption, and the sport of track and field has been marred by
revelations of state-sponsored doping in Russia. In recent months,
IAAF President Sebastian Coe has traveled around the world on a
roadshow, proposing governance reforms which are expected to be
voted upon on Saturday.
Adidas was in the late stage of an 11-year partnership with the
governing body, signed in 2008, but decided to cut it short earlier
this year, according to a person familiar with the matter. Adidas
said Friday it "will continue to remain committed to the sport of
athletics by putting a higher focus on individual athletes."
The German sportswear maker in recent years has moved away from
league deals and has focused on signing more individual athletes
and spending more in the critical U.S. market. Its contract to
outfit the National Basketball Association will expire next
year.
Asics recently finished a long-term partnership as outfitter of
the New York City Marathon, the world's largest. The company
reported consolidated sales of about $3.8 billion last year.
Official outfitting partners of the IAAF typically are given
exclusive rights to supply licensed products for events like the
world track-and-field championships. The rights don't apply to
professional athletes, most of whom have their own individual
sponsors or compete in their national uniforms. Nike Inc. has been
particularly aggressive in recent years about signing and retaining
top individual track-and-field talent.
Write to Sara Germano at sara.germano@wsj.com
(END) Dow Jones Newswires
December 02, 2016 16:05 ET (21:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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