adidas AG (ADR)(OTCMKTS:ADDYY) Seeks Support From IAAF To Control Corruption & Doping Scandals

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The leading sportswear and athlete sponsor of the world, adidas AG (ADR)(OTCMKTS:ADDYY), announced on Monday that it was in close contact with the governing body IAAF. As per the reports, both of them are working together to control corruption and doping scandals that take place in different parts of the world.

The statement came amid the rumors that adidas was ending its sponsorship. While talking to the reporters, a company sportsman said that adidas has always remained strict to doping activities in the sports field, and would continue to hold its stand. It has contacted IAAF to learn more about different doping activities and its reform process.

Insights of The Matter

On this occasion, IAAF also revealed that it was in touch with various partners and sponsors to carry out its reform process in an effective manner. Not long ago, BBC reported that adidas was planning to terminate its sponsorship deal with immediate effect after names of many Russian athletes were linked to doping activities. The fact that worked as fuel to the fire was the accusation of deep rooted corruption in the former IAAF management.

A World Anti-Doping Agency probe claimed early this month that IAAF management, led by its president was corrupted and conspired to allow the extortion of Russian athletes so that they could continue to compete at a higher level than others. The damning report filed by WADA penal also accused that many other team members apart from IAAF President were also involved in this corruption.

The report further claimed that the corruption was embedded in the organization and that it could not be dismissed so easily. The Associated Press Release unveiled the internal communication between IAAF staff and Russian officials over the past six years. Two days after this Press Release, WADA released its report that accused the senior management of IAAF for involvement in unethical activities.

adidas’ move is an eye-opener for IAAF that their actions won’t go unnoticed in the future.

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