Despite the presence of an eight-year US$40 million ($6.4 billion) offer still on the table from rival sports goods manufacturers Adidas, the Jamaica Observer has been reliably informed that the Jamaica Athletics Administrative Association (JAAA) has already extended its contract with longtime sponsors Puma.
The extension was reportedly finalised before Adidas’ offer and ahead of the period stipulated for contract renegotiations and proposals from competing brands and will undoubtedly raise concerns about competitive fairness.
It is not clear how much money the JAAA will receive from this new Puma deal, but the old arrangement which was scheduled to expire at the end of this year was believed to be valued in the region of US$1 million ($159.3 million) a year inclusive of cash and equipment.
https://www.jamaicaobserver.com/2024...sh-adidas-bid/
The extension was reportedly finalised before Adidas’ offer and ahead of the period stipulated for contract renegotiations and proposals from competing brands and will undoubtedly raise concerns about competitive fairness.
It is not clear how much money the JAAA will receive from this new Puma deal, but the old arrangement which was scheduled to expire at the end of this year was believed to be valued in the region of US$1 million ($159.3 million) a year inclusive of cash and equipment.
https://www.jamaicaobserver.com/2024...sh-adidas-bid/
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