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Adidas mutually agree to end their IAAF sponsorship deal

Adidas and the International Association of Athletics Federations (IAAF) have announced that they will end their sponsorship deal three years early; creating a crisis of confidence in the scandal hit sport. During the past 50 years - when comparing sportswear companies - Adidas have been the largest sponsor of athletics, the IAAF and the Summer Olympics. Reports in the media have alleged that Adidas have released the following statement: "we would like to thank the IAAF for a successful and professional cooperation". Adidas' IAAF sponsorship agreement was a 11-year deal that began in 2008, and should have continued to 2019. It is believed that the deal was valued in the region of £6million-£7million per annum. Rumours suggest that the IAAF will announce that the Asics Corp will replace Adidas as their new sponsor. Speculation suggests that Adidas decided to end the sponsorship agreement due to the ongoing doping scandal within international athletics. The Council of the International Association of Athletics Federations (IAAF) provisionally suspended the All-Russia Athletic Federation for alleged breaches of it's anti-doping rules in 2015. The current president of the IAAF is Sebastian Coe.