Adidas says it is seeking more information from IAAF

Dick Pound, the former WADA president, published a second report earlier this month which claimed “corruption was embedded” within the IAAF under ex-president Lamine Diack.

The BBC has reported that Adidas considers the accusations of corrupt practices within the organisation as a breach of its agreement with the IAAF.

According to the BBC, it will cost the IAAF and its commercial partner Dentsu, tens of millions of pounds in revenue.

The IAAF has been deeply shaken by allegations of state-sponsored doping in Russia and deep-rooted corruption at the heart of the federation and centered on Diack, who is facing criminal corruption charges in France.

“The current FIFA/Adidas deal runs to 2030, meaning the potential value of a claim by FIFA against Adidas for wrongful termination would be considerable”, he said.

The IAAF is expected to offer Nike the opportunity to take over as a top sponsor from rivals Adidas after it was revealed the German sportswear giant is set to end its deal four years early.

It is likely to come as a major blow for embattled IAAF president Lord Coe.

The IAAF said Russian Federation could only be reinstated if it fulfilled strict criteria outlined last month, including compliance with all WADA and IAAF anti-doping rules and requirements.

Coe, the IAAF president, was attempting to talk its biggest backer out of tearing up its 11-year, £23million contract with the scandal-plagued governing body following the blackmail and cover-up revelations that have engulfed the sport.

Beesley continued: “So athletics, while important as a business, is a business that some companies like Adidas could indeed perhaps contemplate stepping away from”.

That would total a projected loss of £21million over the next four years for the IAAF.

Elsewhere in the podcast, Adidas’ decision to appoint Kasper Rorsted as its new chief executive is dissected, with wholesale marketing changes expected at the Herzogenaurach-based company as it bids to reclaim its number two position in the U.S. from Under Armour.

Adidas released a statement to say it was in “close contact” with the IAAF as the saga rumbles on, but did not confirm its plans.