IOC To Extend Major Sponsorships
The International Olympic Committee is in talks to extend its existing sponsorship deals with three of its major partners.
Acer, McDonald’s and General Electiric are in negotiations with the IOC for the current deals to extend to the 2014 and 2016 Games or beyond.
Each company pays an estimated £62m for the two-Games package, although the IOC does not release details of individual deals.
The IOC currently has 11 top sponsors for the London 2012 Olympics with eight having extended or signed contracts to 2014 or beyond – according to IOC marketing chief Gerhard Heiberg.
Heiberg said: ‘We have eight now (beyond London) and we are negotiating with General Electric, Acer and McDonald’s to extend. To extend until 2014-2016 or hopefully 2020 as well’.
The latest additions to the sponsorship list include Dow Chemical Co. and Procter & Gamble, who came on board last year.
Heiberg explained that the IOC was working to include a 12th sponsor in time for London, and also added that he did not want to see deals go past 2020 with the IOC planning to reform their top sponsorship program beyond 2020.
Russia’s Sochi will host the 2014 Winter Olympics while Brazil’s Rio de Janeiro will stage the 2016 Summer Games.
The host of the 2018 Winter Olympics will be elected in July while the 2020 Games host will be chosen in 2013.
Atos Origin, Panasonic and Samsung have extended their partnerships until Rio while Coca-Cola, Visa, Omega, Dow and Procter & Gamble have penned deals until the 2020 Games.
