This is a desperation move for ASICS, who have slipped out of the top tier of the US market share. As someone who worked in specialty running for the past 5 years, I know the data.
Nationwide it's Brooks, New Balance, Nike and adidas (in that order) for specialty running. ASICS is a distant fourth fighting with Mizuno with the new comers Hoka and ON gaining market share.
They got outbid by NB for the NYC Marathon sponsorship as NYRR was looking for an over arching partnership for all of their races and their program. NB stepped up with a $100 million, 10-year deal to be the exclusive partner for all of their races. To put that in perspective, they did $4.5 million in revenue during the expo of the 2017 NYC Marathon, their first year as the sponsor. So the deal is paying off for NB, especially with the "hobby jogger" crowd as the NYC Marathon, NYC Half, Brooklyn Half, etc. attract much more of the "hobby jogger" crowd and the experientially valued millennial generation who will do a larger race in NYC for the experience, but wouldn't do a local 26.2/13.1.
ASICS lost that connection with letting their deal with NYRR lapse, their running footwear line has been stagnant, and their "flytfoam" hasn't had the same buzz as boost, everrun, zoom x, etc.
This deal is a hail mary to make them relevant in the run specialty space again.