Under the agreement, adidas will be the official IAAF athletic sponsor and licensee product supplier for the next decade. 

The partnership incorporates every aspect of athletics, from product creation, to grassroots development and retail distribution. 

Among the highlights of the deal, adidas will be the Official Sponsor of the 2009 IAAF World Championships next summer in Berlin, August 15-23.

The partnership was announced during a press event in Monaco supported by the chiefe executive and chairman of adidas AG, Herbert Hainer, and IAAF President, Lamine Diack. 

Also present were a host of track and field stars representing adidas, including 2008 Olympic gold medallists Yelena Isinbayeva from Russia, Dayron Robles from Cuba and Andreas Thorkildsen from Norway.

Adidas has a longstanding history in athletics dating back to 1928 when their founder, Adi Dassler, supplied Lina Radke with a handmade pair of spikes to wear during the Olympic Games in Amsterdam.  

Radke set a world record in the 800 meters and became the first Olympian to win gold in adidas. 

Many more heroes of athletics have followed wearing adidas including Jesse Owens, Emil Zatopek, Al Oerter, Bob Beamon, Daley Thompson, Grete Waitz, Heike Henkel and Haile Gebrselassie.

Hainer said: “The heritage of the adidas brand is closely linked with the legacy of athletics and the IAAF.

"Therefore, we are very proud to announce our new partnership with IAAF and we are looking forward to shaping the future of athletics together at all levels in the coming years."

Diack said: “Adidas is more than just a major business corporation.

"It is a company which has deep roots in the sport of athletics and has also been a good partner of the IAAF in the past. I am delighted that we are re-signing with adidas, a brand that understands and loves the sport of athletics.”

Adidas will continue supporting the IAAF development and continental programmes by providing what it claims are the most advanced adidas athletics apparel, footwear and accessories.

The IAAF Continental Programme enables the IAAF to expand support to its continental regions and adidas will make a very significant contribution to this programme, Diack said.