President of IAAF, Sebastian Coe
Global food and beverage company Nestle has become the latest brand to end its sponsorship with the International Association of Athletics Federations (IAAF) following the organisation’s doping scandal.
The Swiss company said it had taken the decision with “immediate effect” amid concerns that the issues surrounding the athletics governing body could damage their reputation.
The company signed a five-year deal in 2012 to sponsor the IAAF’s Kids Athletics programme.
It is another blow for the IAAF after German sportswear brand Adidas also ended its sponsorship last month.
“We have decided to end our partnership with the IAAF Kids Athletics programme with immediate effect,” Nestle said.
“This decision was taken in light of negative publicity associated with allegations of corruption and doping in sport made against the IAAF.
“We believe this could adversely affect our reputation and image and therefore have terminated the existing contract.
“We have informed the IAAF of our decision and await a formal acknowledgment from them that our partnership has ended.”
However, IAAF president Seb Coe is refusing to accept Nestle’s decision to end its sponsorship deal and said in a statement, “I am angered and dismayed by today’s kids’ athletics announcement. We will not accept it. It’s the kids who will suffer.”
In a more detailed statement the IAAF said: “The IAAF is in discussion with Nestle concerning the final year of its five-year partnership with IAAF Kids’ Athletics.
“In 2016, IAAF Kids’ Athletics plans to reach a further 15 countries, training 360 lecturers, instructing 8,640 physical education teachers, with three million children participating by the end of the activation.”
According to isportconnect.com, the loss of Nestle will hit the IAAF hard, particularly as it comes so soon after the announcement by Adidas.
Nestle and the IAAF were in the final year of their sponsorship, whereas the Adidas deal was due to …Read More
Source:: PM Newspaper