Swiss financial services giant UBS has confirmed that it will continue its long-term sponsorship of the Athletissima track and field meeting in Lausanne, Switzerland for a further year.

The contract extension means that UBS will be the main partner of the event in 2010. The news was confirmed during the 2009 event, held on Monday evening. The Athletissima meeting is part of the IAAF's World Athletics Tour and has Super Grand Prix status, a step below the lucrative Golden League meetings.

UBS has been the main partner of the annual one-day event since 1982. The meeting is regarded as one of the most significant in the athletics calendar. Olympic 100m and 200m champion Usain Bolt used this year's event as preparation for next month's World Athletics Championships in Berlin, Germany by setting the fourth quickest 200 metre time in history.

The renewal comes at a time when UBS is cutting back on its sponsorship portfolio across sport and culture. It has yet to decide whether to renew its SF800,000 (US$730,000) sponsorship of Switzerland's other major athletics meet, the Golden League Zurich Weltklasse, but has confirmed it will no longer sponsor the Hong Kong Open golf event or America's Cup defender Team Alinghi.