"Negative publicity" prompts Nestle to cut short sponsorship deal with IAAF

The IAAF has been hit with a financial body blow

The IAAF has suffered a new blow after Nestle announced it has terminated its sponsorship of world athletics' governing body.

The Swiss-based food and beverage company said in a statement it was concerned its own reputation could be damaged by association, owing to the doping and corruption scandals involving the IAAF.

Nestle was a financial backer of the IAAF Kids Athletics programme, being its main sponsor since 2012.

Nestle said in its statement: " We have decided to end our partnership with the IAAF Kids' Athletics programme with immediate effect. This decision was taken in light of negative publicity associated with allegations of corruption and doping in sport made against the IAAF.

"We believe this could negatively impact our reputation and image and will therefore terminate our existing agreement with the IAAF, established in 2012.

"We have informed the IAAF of our decision and await a formal acknowledgement from them that our partnership has ended."

News Now - Sport News