Adidas deny cancelling contract with IAAF

Despite a corruption scandal engulfing the IAAF, global sportswear giant Adidas insists it has not cancelled its sponsorship contract with world athletics' governing body.

Recent months have seen the reputation of the IAAF badly tarnished, after an independent report commissioned by the World Anti-Doping Agency found Russia to have been involved in widespread, state-sponsored doping.

It was later alleged that the IAAF, including its former president Lamine Diack, must have known about the doping.

With the Rio Olympics just five months away and the IAAF doing all it can to improve its image, the BBC reported in January Adidas were set to end its deal, but these claims have been denied by the company.

"We have not terminated our contract," said chief executive Herbert Hainer as Adidas announced its annual results on Thursday.

"The IAAF knows exactly where we are going with our policy in terms of doping. We are in very close contact with the IAAF and will watch very closely what they are doing with this problem."

Hainer also confirmed Adidas was keeping a watchful eye on FIFA - with whom it also has a contract - as world football's governing body also attempts to recover from a tumultuous nine months of corruption and scandal.