Isinbayeva agrees deal worth $1.5m annually

Russian Olympic champion and pole vault world record holder Yelena Isinbayeva has agreed a million-dollar contract with China's largest sportswear retailer Li Ning, sources have told Reuters.

The agreement, worth $1.5m annually for five years according to a person with knowledge of the offer, is significant because of the amount of money and the entry of a Chinese company into the athletics marketing world with a high-profile athlete.

"There is no athlete on the track circuit that earns that kind of money," said a person familiar with the negotiations.

That includes Jamaican double sprint world record holder Usain Bolt, the source said.

Isinbayeva, the IAAF female athlete of the year, has been under contract to Adidas, the world's second-largest sports goods maker.

Isinbayeva's agent, Daniel Wessfeldt, told Reuters by telephone: "On that I cannot comment at this point".