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Samsung Discontinues Diamond League Sponsorship

  • By Duncan Larkin
  • Published Apr. 5, 2013
  • Updated Apr. 5, 2013 at 10:15 AM UTC
Samsung will no longer sponsor the IAAF Diamond League series. Photo: Sports Kenya

South Korean electronics company walks away from the IAAF.

For three years, the primary sponsor of the premier track and field leagues, Samsung, has given approximately $4.5 million to the IAAF as part of a sponsorship deal for the Diamond League Series.

According to a report posted on the Telegraph’s Web site, however, Samsung has decided to discontinue the support this year.

This leaves the IAAF scrambling for a new title sponsor.

That being said, the IAAF insists that the series will go on without Samsung. Apparently the IAAF has enough cash in reserve to continue on its own for now.

Until a sponsor is found, the series will be called the “IAAF Diamond League.”

A weakened global economy was said to be the reason for Samsung’s decision. An IAAF spokesman said the company has opted to “cut back on its exposure-driven activities.”

Still, the company continues to back sprinter Usain Bolt as well as the British Chelsea Football Club.

For More: Telegraph

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Duncan Larkin

Duncan Larkin

Duncan Larkin is the news editor at Competitor.com and a freelance journalist who’s been covering the sport of running for over five years. He’s run 2:32 in the marathon and won the Himalayan 100-Mile Stage Race in 2007. His first running book, RUN SIMPLE, was released last July.

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