Puma terminates N1 billion contract with AFN
PUMA, top sportswear manufacturing company, has announced the termination of its four-year contract with the Athletics Federation of Nigeria (AFN).
According to a statement signed by the company’s Director, Manuel Edlhaimb on Wednesday, the decision is as a result of the recent developments at the Tokyo Olympic Games 2020 where Nigeria’s athletes were not able to wear the brand.
In his words: “As a direct consequence of the recent developments, particularly at the Tokyo Olympic Games 2020 and in pursuant to clauses 9.2 and 7.3 of the agreement, we hereby terminate the Agreement with immediate effect.”
The deal between the German sportswear manufacturer and the AFN was signed under the leadership of Shehu Gusau in July 2019, in Doha and was worth about N1 billion ($2.76.)
Among other highlighted benefits in the contract was supplying apparel to all age categories to Nigeria’s Athletics team for four years at no cost.
In addition, gold medalists at the Olympic Games will earn $15,000, silver medalists will get $5,000, while a bronze medal winner would get $3,000.
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