IOC And Visa Extend To 2032
The International Olympic Committee (IOC) has announced the extension of its global partnership agreement with Visa to 2032.
The financial giant, a founding member of the IOC’s TOP programme, will also be the first of the worldwide Olympic partners to receive an automatic extension of its Paralympic Games rights, under the terms of a new joint marketing programme recently confirmed by the IOC and the International Paralympic Committee (IPC).
Visa, which has enjoyed a relationship with the IOC since 1986, is also the longest-serving commercial supporter of the Paralympic Movement, having acquired its first IPC rights in 2003. Both deals had been scheduled for renewal in 2020.
While financial terms of the new agreement have not been disclosed, it includes a commitment that will see Visa work with local organising committees “to advance digital payment in the host country during and beyond the Olympic Games.”
Hosting rights to the Games in 2020, 2022, 2024 and 2028 have been awarded respectively to Tokyo, Beijing, Paris and Los Angeles.
Commenting on the extension, IOC president Thomas Bach said: “Our partnership with Visa demonstrates a shared commitment to the legacy of the Olympic Games and the global Olympic Movement.”
Al Kelly, CEO of Visa Inc added: “Since 1986, Visa has brought the latest payment innovations and digital experiences to the Olympic Games, all while helping athletes in their quest to achieve greatness.
“By continuing our support of the Olympic Movement and the Olympic Games through 2032, we will ensure the next generation of athletes, fans, cardholders and clients are able to get more out of their Olympic experience, and be part of a movement that inspires and unites us all to do great things.”
The new, long-term agreement with Visa will bring continuity to the IOC TOP programme, which has seen some flux in recent years, including the departure of McDonald’s, another founding member.
Six more of the current TOP sponsor deals – GE, Atos, Coca-Cola, Dow, P&G and Samsung – expire in 2020.
Image: ©Getty Images
