German sportswear giant, Puma on Wednesday officially terminated a four-year licensing and sponsorship contract worth $2.7 million with the Athletics Federation of Nigeria.
The company made this disclosure in a press statement addressed to the Athletics Federation of Nigeria.
The statement from Puma reads, “We are referring to the Sponsoring & Licensing Agreement (the “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 explicitly declares to be discharged from any and all obligations towards all stakeholders involved and reserves all rights against these entities and individuals”.
Former President of AFN Shehu Gusau had reportedly entered into the contract with Puma at Doha in 2019, a development that led to a crisis in the AFN.
The ministry of youth and sports development in Nigeria did not allow athletes to use the Puma kits donated for the Tokyo 2020 Olympics because the bigwigs in the ministry claimed not to be privy to the contract with Puma.
The Ministry accused Mr. Gusau and former technical director of AFN, Sunday Adeleye, of refusing to disclose the contractual agreement they signed with Puma on behalf of AFN.
Those put on notice in the cancellation of the contract by PUMA is Athletics Federation of Nigeria, Hon. Engr. Ibrahim Shehu Gusau, Prince Adisa A. Beyloku and Oluwole Afolabi Esq.
