German sports wear manufacturing giants PUMA has terminated its four -year contract with the Athletics Federation of Nigeria.
In a letter dated Wednesday 4th August 2021 and signed by the company’s director Manuel Edlheimb, PUMA said it was officially notifying the Athletics Federation of Nigeria of its termination of Sponsoring and Licensing Agreement.
“We are referring to the licensing and sponsoring agreement signed between our company and your federation.
“As a direct consequence of the recent 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.
“PUMA especially declares to be discharged from any or all obligations towards all stakeholders involved and reserves all rights against these entities and individuals”.
The Athletics Federation of Nigeria under the leadership of Ibrahim Gusau signed a 4-year contract with PUMA in 2019 and was due to expire in 2022.
Part of the contract is that PUMA will supply apparels to all age categories to Nigeria’s Athletics team for four years at no cost.
In addition, gold medalists at the Olympic Games will earn $15,000, silver medalists will get 5,000 while a bronze medal will fetch athletes wearing the PUMA apparel at the games $3000.