The leading food and drink company Nestle has terminated its sponsorship towards IAAF. The action has been taken after the International Association of Athletics Federation was affected by doping crisis. They are afraid suspecting that the crisis will probably ruin reputation they have for long struggled to build. Nestle have insisted to have taken that action already and cannot allow any kind of negotiation. Lord Coe, the president of IAAF however said that he will not accept such. He explained that the decision was unkind and annoying.
This decision is a great debacle to IAAF bearing in mind that they lost one of their sponsors last year. Adidas, the company in charge of sportswear detached itself and parted ways with IAAF. The sponsorship which was to run till 2019, was unfortunately terminated last year.
Despite a disbelief shown by IAAF, Nestle held on to their decision and insisted that they are never going to turn back. This decision was taken after IAAF was negatively exposed to the public. The federation was alleged to have participated in unscrupulous activities that includes doping and corruption in sports.
Nestle said that they want to maintain their reputation and that is why they terminated that deal. The deal was established in 2012 and has barely gone for three years. “We have taken the information to the IAAF concerning our decision and all we are waiting is a formal letter acknowledging that our deal is indeed terminated”.
Lord Coe kept on emphasizing that he was greatly angered by that action. “I am distress by the announcement given from Kids’ athletes”, He said. Coe argued that the action will bring a lot of suffering to the kids.
IAAF elaborated further, and succinctly explained the negative implications that would result from Nestle’s decision. They revealed that it is children who will suffer. They clarified further, and ended up giving exact number of children who will be affected.
IAAF has damaged its reputation and has been featured with malicious acts of corruption, bribery and doping. Lord Coe was elected president when the organization was already torn into pieces. His task was to try and restore the already lost reputation. Lord Coe has been travelling all over the world explaining that the organization is still on its stands and will pursue its objectives. He serves to give a word of encouragement to their corporate sponsors who are getting tired and plan on disengaging their ties.
The organization is experiencing a big blow. It is not long after they lost Adidas and they are losing Nestle.
Adidas ended its deal with IAAF four years earlier. They frankly explained that it was due to doping scandal the organization was associated with. Dentsu, who partner with IAAF are also subjected to this losses befalling the organization. Lord Coe quickly released Adidas but is hesitant to release Nestle. He probably have detected that the organization is going on its knees. Now that sponsors are withdrawing, next event is totally unpredictable.