November 28 - Adidas have extended their sponsorship deal of the British Olympic Association (BOA) beyond London 2012 until Rio 2016, continuation of a partnership that started in 1983.
The new deal includes a sponsorship and a licensing deal under which adidas will receive marketing rights to Team GB.
In return the German sportswear manufacturer will provide the BOA with all of its sportswear requirements, including all competition and leisure wear for every athlete and team official participating at the 2014 Winter Olympics in Sochi as well as Rio.
They will also provide non-competition wear for all other Olympic youth festivals and Games.
The deal is made up of cash, value-in-kind and marketing support for kit launches.
Under the licensing deal, adidas will create and market exclusive Team GB licensed products that will be retailed to the British public.
"I am delighted that with over a year to go we have already secured our first tier one sponsorship deal for the 2013-2016 quadrennial," said Andy Hunt, the chief executive of the BOA.
"What makes it even more exciting is that it marks a significant kick-start to the British Olympic Association's post-2012 commercial programme.
"Adidas has been a highly valued supporter of the BOA for 28 years now.
"This makes them our longest serving partner and through this partnership, we will continue to mutually build and promote the Team GB brand as a valuable consumer and commercial entity.
"Our long partnership also means that adidas brings vast experience in terms of supplying high-performance sportswear for an incredibly diverse range of summer and winter Olympic sports.
"Furthermore, adidas provides Team GB with industry leading innovation and technology as well as operational and logistical support that is invaluable to an organisation with such complex supply requirements as the BOA.
"We are very proud to have a partner like adidas.
"For our athletes looking and feeling great certainly has an impact on performance and we are confident that with adidas on board, British athletes will not only continue to look and feel great, but they will also be wearing and competing in industry-leading products."
Adidas, who are also a Tier One sponsor of London 2012, claimed that the new deal illustrated its commitment to British sport beyond next year's Olympics.
"This unique partnership is one of the longest in British sporting history and demonstrates our unique multi-sport heritage and our continued on-going investment in sport throughout the UK," said Gil Steyaert, managing director of adidas Market North
"In addition, we are able to illustrate our leadership in product innovation across many specialist sports as well as our rich legacy in the Games.
"No other brand has a more distinguished history or stronger connection with sport than adidas and we look forward to continuing our support for Team GB to 2016."
By Duncan Mackay