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Home Business News

Tokyo Olympics: Puma terminates $2.7 million sponsorship with Nigeria

William Ukpe by William Ukpe
August 5, 2021
in Business News, Sports
Tokyo Olympics: Puma terminates $2.7 million sponsorship with Nigeria
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Global sports merchandise company, Puma has terminated its 4-year $2.7 million deal with Nigeria over a kitting controversy for the Olympics.

This was disclosed in a letter signed by puma’s International Sports Marketing Agency and addressed to the Athletics Federation of Nigeria on Wednesday evening.

Puma said: “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.”

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Puma added that it wants to be discharged from any and all obligations towards all stakeholders involved and reserves all rights against entities involved.

The News of the Puma deal termination was imminent after reports that the German Company was unhappy with the Athletics Federation of Nigeria and Nigeria’s Olympic Committee for kitting with a different sponsor, Afa Sports as the official kits supplier for Team Nigeria. This was against the deal with Puma in which both sides agreed that the Olympics Team would be kitted by Puma.

Tags: PumaTeam Nigeria
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

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Comments 1

  1. Anonymous says:
    August 5, 2021 at 11:46 am

    Why are the people managing affairs in sport failing woefully? This is not only an embarrassment but a shame to Nigeria. The minister of sport should have been sacked by now.

    Reply

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