The news comes as a boost to the IAAF, with vice-president Sebastian Coe admitting last month that athletics was a sport on the brink of crisis and president Lamine Diack acknowledging cutbacks to the tune of $20 million by 2012.
In addition to the title sponsorship, Samsung will have extensive exposure on advertising boards, hurdles, print material and on the official Diamond League website; a first-class hospitality package and numerous other promotional benefits.
“I am delighted with this deal, particularly because it is with a world famous corporation that is already our partner for the IAAF World Championships series of events and the Olympic Games,” said Diack. “Samsung understands athletics and we now have a powerful partner across all our most important properties.”
Samsung – which is also is also an International Olympic Committee sponsor up to and including 2016 – has an option to extend the sponsorship for an additional year at the end of the contract.
