The International Association of Athletics Federations (IAAF) has signed a deal with Sinopec, the China Petroleum and Chemical Corporation, which will be official sponsor for this weekend’s IAAF/VTB Continental Cup in Split.

Sinopec, the second largest producer of crude oil and gas and the largest refiner in China, has also acquired title sponsorship rights for what will now be known as the IAAF/Sinopec World Half Marathon Championships which take place in Nanning, China on October 16.

The addition of Sinopec, who were also the official petrochemical sponsor of the Beijing Olympics and Paralympics in 2008, as an IAAF partner, although currently for only a limited number of competitions, is the latest step in the international diversification of the IAAF’s portfolio of sponsors following the integration of Korea’s Samsung and Russian bank VTB in recent years.

"I warmly welcome the announcement of our partnership with Sinopec," said IAAF President Lamine Diack.

"This first direct association with the economic powerhouse of China is a vital ingredient in the IAAF’s long term strategy to ensure both its financial stability and the continued global development of athletics.

"Our sport is the number one at the Olympic Games and our own World Championships are the third biggest global sporting event after the Games and the FIFA World Cup, and this agreement with Sinopec will help us to retain and enhance that position in world sport.”

Contact the writer of this story at [email protected]


Related stories
August 2010: Athletes prize money will not be cut, promises IAAF President Lamine Diack
June 2010: Samsung to sponsor IAAF Diamond League
May 2010: IAAF to make $20 million savings
May 2010: Exclusive - Support growing for Coe to stand as Diack denies financial crisis
May 2010: Diack planning huge cuts at IAAF as he desperately clings to power