The FINANCIAL — At a press event in Monaco, adidas and the IAAF on November 23 announced an 11-year partnership agreement granting adidas the world-wide sponsorship rights for all IAAF World Athletic Series events from 2009 until 2019.
Under the agreement, adidas will be the official IAAF athletic sponsor and licensee product supplier. The partnership incorporates every aspect of athletics, from product creation, to grassroots development and retail distribution. Among the highlights of the deal, adidas will be the Official Sponsor of the 2009 IAAF World Championships next summer in Berlin, August 15th through 23rd.
"The heritage of the adidas brand is closely linked with the legacy of athletics and the IAAF,” said Herbert Hainer, Chairman and CEO of adidas AG. “Therefore, we are very proud to announce our new partnership with IAAF and we are looking forward to shaping the future of athletics together at all levels in the coming years."
According to adidas, The IAAF President Lamine Diack also welcomed the agreement and said: "adidas is more than just a major business corporation. It is a company which has deep roots in the sport of athletics and has also been a good partner of the IAAF in the past. I am delighted that we are re-signing with adidas, a brand that understands and loves the sport of athletics."
adidas has a longstanding history in athletics dating back to 1928 when their founder, Adi Dassler, supplied Lina Radke with a handmade pair of spikes to wear during the Olympic Games in Amsterdam. Lina set a world record in the 800 meters and became the first Olympian to win gold in adidas. Many more heroes of athletics have followed wearing adidas including Jesse Owens, Emil Zátopek, Al Oerter, Bob Beamon, Dailey Thompson, Grete Waitz, Heike Henkel, Haile Gebrselassie and Yelena Isinbayeva.
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