The contract with Nike, the world's largest sports shoe and apparel maker, extends its deal through 2013, but the company has an option to renew it through 2017, said USATF chief executive Doug Logan.

 

Nike has been a sponsor since 1991 of the national team of the USATF.

 

The company outfits all USTF teams in international competitions, including the Olympics.

 

Nike are also to establish a "Project 30 Fund" to aid up-and-coming athletes.

 

Taking its name from USATF's Project 30 Task Force, which called for greater support for post-college athletes, the fund will be administered by USATF for athletes who lack shoe-company sponsorship but who have medal-winning potential, particularly in traditionally under-funded event groups.

 

USATF's High Performance Department, headed by Chief of Sport Performance Benita Fitzgerald Mosley, will oversee distribution of support, which may range from compensation for personal coaches and support staff to sponsorship of athletes at USATF High Performance Training Centres, among other possibilities.

 

The partnership also includes a commitment by Nike to support numerous professional track athletes annually.

 

Logan said: "We worked together with Nike to craft something that reflects the fair market value of our brand while being much more than just a boilerplate sponsorship.

 

"Thanks to Nike's support, USA Track & Field will be able to enact many of the key recommendations of the Project 30 Task Force, and to provide a safety net of support that so many post-collegiate athletes are currently lacking.

 

"With more of their necessities taken care of, athletes can focus on training, and performing, to their full potential."

 

John Capriotti, Nike Global Director of Athletics Sport Marketing, said: "Track and field was the cornerstone of Nike's founding, and we remain committed to being a partner in the future of the sport.

 

"We are excited to add this new component of athlete-centered funding to our sponsorship of USA Track & Field."

 

Nike will also be a major sponsor of the USA versus. Jamaica Challenge meets in 2010 and will continue to sponsor USA Track & Field's Indoor and Outdoor Track & Field Championships.

 

Nike last year extended its deal with the United States Olympic Committee.