The move demonstrates the short fuse that Madison Avenue now has with wayward athletic endorsers. Golf superstar Tiger Woods has been dropped by two corporate sponsors, AT&T and Accenture, following recent allegations of his alleged extramarital affairs with multiple women.
"In response to Gilbert Arenas' guilty plea to felony charges, Adidas has terminated its agreement with the athlete effective immediately," spokeswoman Stephanie Von Allmen said in a statement. "Beyond this statement we have no further comment at this time.
Adidas initially said last week that it was "evaluating" its relationship with the 28-year old guard after NBA Commissioner David Stern suspended Arenas indefinitely without pay.
Arenas has pushed his signature shoe for Adidas since signing an endorsement deal in December 2003. He was one of Adidas' biggest basketball endorsers with fellow NBA stars Dwight Howard and Tracy McGrady.
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