Dick's sports equipment to end US Olympic sponsorship

FILE PHOTO: A General Overview of Dick's Sporting Goods Store in Stroudsburg, Pennsylvania, USA February 28, 2018. REUTERS / Eduardo Munoz

(Reuters) ̵[ads1]1; Sports Products Dealer Dick & # 39; s Sporting Goods Inc ( DKS. N ) said on Friday that it does not renew its US Olympic Committee (USOC) sponsorship beyond 2018.

The company stated in an e-mail statement "new investment focus" as the reason, but not deepened further.

Today, all 86 athletes offering compensation and flexible work schedules have the ability to remain Dick's employees and move to a traditional part-time role from January 1.

USOC did not respond to comment request.

Earlier this month, a report by the USOC and conducted by the law firm Ropes & Gray, said that the Olympic panel failed to protect athletes from the threat of sexual abuse.

It showed that some top executives did not take any action when Larry Nassar's sexual assault scandals became widespread.

Reporting by Mary Ann Alapatt in Bengaluru

Our Standards: Thomson Reuters Trust Principles.

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