Thursday, February 11, 2016
Multinational firm Nestlé to end IAAF sponsorship
Following on from the decision of Adidas to end their sponsorship of the IAAF last month, Nestlé dealt another blow to the governing body for athletics when they announced yesterday that they will be ending their sponsorship of the IAAF Kids' Athletic programme.
In a statement Nestlé said: “We have decided to end our partnership with the IAAF Kids programme with immediate effect. This is our decision given the negative public perception regarding corruption allegations and doping in sport against the IAAF. We believe that this could adversely affect our reputation and image and therefore have terminated the existing contract."
Not only is Nestlé removing their sponsorship but they are also asking the IAAF to to remove all Nestlé branding from the IAAF website as they want to avoid any association with the organisation.
In response, the IAAF President Seb Coe said that they were..."Angered and dismayed by today's kids' athletics announcement. We will not accept it. It's the kids who will suffer.". He said nothing about about the endemic corruption within the IAAF.
For any company to pull out of sponsorship in an Olympic year speaks volumes. The sponsorship deal with Nestlé is understood to have been in the region of $1 million per year.