Financials Between Nike and USA Track & Field Reportedly Under Investigation

A criminal investigation is looking into the financial relationship between USA Track & Field (USATF) and Nike. According to a report from Runner’s World, the U.S. Attorney’s Office for the District of Columbia has requested financial documents from USATF, the governing body of professional running in the U.S., and three companies, including Nike, a corporate sponsor. Marketing firm Matchbook Creative, which had worked with Nike an USATF in the past, and commercial rights advisory firm Bevilacqua Helfant Ventures LLC, which lists USATF as a client, are also being asked to provide financial details for the investigation. In a statement to FN, Nike said it believes in “compliance with laws and fair play in all sports and would be committed to cooperating with any government investigation into this matter.” The grand jury subpoena also reportedly asked for details regarding the business dealings of USATF CEO Max Siegel. “USATF is not able to confirm the existence of any investigation,” USATF told Runner’s World in a statement. “However, the Organization stands ready to fully and transparently cooperate with any government inquiry. We are committed to our mission to drive competitive excellence and popular engagement in the sport.” USATF is a longtime Nike partner. The two bodies signed a

Follow Footwear News on Twitter or become a fan on Facebook.

from Footwear NewsFootwear News https://ift.tt/3ok3zUh