The IAAF already lost a major sponsorship relationship with Adidas, but Nestle is wasting no more time in going their separate ways. The food and beverage giant has dumped the IAAF sponsorship deal a year early as the IAAF continues to work through a major doping scandal, the Associated Press reports.
“This decision was taken in light of negative publicity associated with allegations of corruption and doping in sport made against the IAAF,” Nestle said in a statement. “We believe this could negatively impact our reputation and image and will therefore terminate our existing agreement with the IAAF, established in 2012.”
New IAAF president Sebastian Coe said in a statement the IAAF will not accept sponsors ending their contracts early. “It’s the kids who will suffer,” Coe said referring to the youth athletic program previously funded by Nestle which has benefitted 15 million children in 76 countries. the IAAF is reportedly in discussions with Nestle to try and patch things up enough to keep Nestle on for the final year of its contract.
Nestle is making a business decision by not standing by idly by an organization filled with corruption. It is a choice any business may find easy to make, and it will be intriguing to see if any other sponsors pull the cord on their sponsorship deals with the IAAF. Sponsors remaining on board with their IAAF contracts include Canon, Toyota, Seiko, TDK, TBS and Mondo.
Former IAAF president Lamine Diack has been accused of passive corruption for taking over $1 million in bribes to cover up drug tests by Russian athletes and faces charges for active corruption. Diack’s sons and two more Russian officials were also issued lifetime track and field bans as the fallout from the doping scandal continues to unravel.
