Asics America has announced its decision to end its sponsorship as the official footwear and apparel partner of the TCS New York City Marathon after 25 years, the company announced on Monday.
New Balance will replace Asics in 2017, according to Ben Fisher of Sports Business Daily. The terms of the deal have not been disclosed but New Balance is expected to pay more than Asics' $3 million annually.
The 2016 running of the New York City Marathon will be the last for Asics.
“Asics has had a tremendous run with the TCS NYC Marathon over the last quarter century and we will always hold the amazing runners and fans in New York near and dear to our hearts. Though not easy, this was a strategic business decision, as the running and marketing landscape continues to change so dramatically. This was the right time for us to take a strategic look at our overall marketing and engagement plans for the future,” Asics America President and CEO Gene McCarthy said in a press release.
Skechers replaced Asics as the title sponsor for the Los Angeles Marathon in August.
Asics remains tied to the 26.2 mile distance with the sponsorship of professional American marathoners Deena Kastor, Ryan Hall, Sara Hall, Shadrack Biwott, Gabe Proctor and Becky Wade.
New Balance is expected to hold an announcement with the New York Road Runners on Tuesday.
- Christopher Chavez