The German sports apparel manufacturer Puma has terminated its four-year sponsoring and licensing deal with the Athletics Federation of Nigeria (AFN).
Recall that 10 athletes were banned from the ongoing Tokyo Olympics due to what is termed “out-of-competition” testing rules which Athletics Federation of Nigeria (AFN) failed to adhere.
EarthNews learnt that the PUMA kits are supposed to be the official kits for the athletes representing Nigeria and at such, each medalists will receive monetary reward based on the category of the medal. Bronze medal equates $3,000; silver holder earns $5,000 while gold medalist earns $15,000.
The statement came to open through a letter from PUMA ’s director, Manuel Edlheimb directed to AFN’s leadership.
“We are referring to the licensing and sponsoring agreement signed between our company and your federation,” PUMA ’s director Manuel Edlheimb said in a letter to AFN.
“As a direct consequence of the recent Athletics Federation of Nigeria developments, particularly at the Tokyo Olympic Games 2020 and pursuant to clauses 9.2 and 7.3 of the Agreement, we hereby terminate the Agreement with immediate effect.
“We are referring to the licensing and sponsoring agreement signed between our company and your federation.”
AFN signed a 4-year contract with PUMA in 2019 which is due for expiration in 2022. One of the contract obligations is that PUMA will supply apparel to all age categories to Nigeria’s Athletics team for duration of four years at no additional cost.
As the contract is breached with emphasis on agreement clauses 9.2 and 7.3, the German sporting giant has no option than to severe part with Athletic Federation of Nigeria (AFN).
Rate hikes may trigger recession, W’Bank warns FG
I rejected Tinubu’s senatorial ticket offer – Wike
Buhari to honour Olu of Warri with CFR
Apple Music is New Super Bowl Halftime Show Sponsor – NFL
North Korea denies exporting weapons to Russia
Theft hurts Nigeria’s oil output but crackdown intensifies
Chelsea Sack Commercial Director Over ‘Inappropriate Messages’
World Athletics ratifies Tobi Amusan’s 100m hurdles record
Putin worried over Armenia, Azerbaijan fighting, urges restraint
BEDC pledges better service delivery as it increases staff salaries
Join our Facebook Fan page
Business1 month ago
Foreign Models, Voice-Over Artists Banned in Nigerian Adverts
International1 week ago
Man Arrested after Approaching Queen’s Coffin
Entertainment4 weeks ago
Bigi ‘Watch & Win’ Promo Recommences, Offers Prizes of a Brand-New Car, Other Exciting Freebies
News2 months ago
ASUU Strike: NLC Solidarity Rally Holds Today, Police Warn Hoodlums