UK Athletics has signed a £15 million sponsorship deal with US retailer Nike after solving a dispute with Adidas after they took the national governing body to court in the Netherlands.
The announcement comes after he court threw out Adidas’ claim that they had a “matching rights” clause within their contract that allowed them to match any rival offer that was made once the existing contract came up for renewal.
The verdict paved the way for Nike to seal a seven-year contract with UK Athletics, a time frame that encompasses the IAAF World Championships taking place in London in 2017.
The contract to supply British athletes of all age groups including Paralympics competitors is believed to be worth double the value of the previous deal UK Athletics held with Adidas.
An Adidas spokesman said: “Obviously we had a relationship with UK Athletics and we ‘re disappointed that the court decision did not go our way. We would love to have reached the point where we could continue the partnership. “
The deal will suit big-name athletes like Perri Shakes-Drayton, Holly Bleasdale and Mo Farah who already have Nike as their personal sponsor, however Adidas will remain the kit sponsor for the Rio 2016 Olympics following contract extension of their Olympic kit deal with the British Olympic Association in 2011.