Despite a corruption scandal engulfing the IAAF, global sportswear giant adidas insists it has not canceled its sponsorship contract with track and field's world governing body.
Recent months have seen the reputation of the IAAF tarnished. An independent report commissioned by the World Anti-Doping Agency found Russia to have been involved in widespread, state-sponsored doping.
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It was later alleged that the IAAF, including 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 that adidas was set to end its deal. The German company denied those claims.
"We have not terminated our contract," chief executive Herbert Hainer said Thursday as adidas announced its annual results.
"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 that adidas was keeping a watchful eye on FIFA — with whom it also has a contract — as soccer's world governing body also attempts to recover from a tumultuous nine months of corruption and scandal.