Minister of Sports, Olivia Grange, says she’s impressed with the proposal put forward by global sports goods manufacturers Adidas to be the title sponsors for Jamaica’s track and field programme.
On April 10 this year Nationwide Sports first reported that Adidas proposed to pump over $5.7 billion over eight years into the country’s track and field programme.
The proposed deal is laiden with incentives, including a deal to develop the country’s sporting infrastructure valued at US $250,000 per year dollars for eight years.
Under the proposed deal, Adidas intends to make available close to US $3 million or JM $441 million a year in cash to the Jamaica Athletics Administrative Association, JAAA, for eight years.
In addition, US $2,180,000 in equipment will be put aside per year, with US $2 million of that in general products and US $50,000 per year in products for the next generation of Jamaican athletes.
There’s also a 10 per cent royalty bonus per year from sales of Adidas apparel.
Minister Grange says she has spoken with members of the JAAA board about the proposal.
She says any endorsement deal signed by Jamaica’s sports associations should be symbiotic.
Olivia Grange.
Nationwide Sports can confirmed that Adidas has formally forwarded the proposal to the JAAA’s, who’ve acknowledge receipt.
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