Fast food chain McDonald`s and the International Olympic Committee (IOC) are close to agreeing a new, eight-year sponsorship contract and the deal could be sealed this month, the IOC`s marketing chief said.
|Last Updated: Jan 10, 2012, 09:35 PM IST|Source: Bureau
London: Fast food chain McDonald`s and the International Olympic Committee (IOC) are close to agreeing a new, eight-year sponsorship contract and the deal could be sealed this month, the IOC`s marketing chief said.
McDonald`s, whose contract runs out after this year`s London Olympics, and IOC officials will meet in Austria during the Innsbruck Youth Olympics starting on Friday to finalise details.
"The situation is positive and I don`t see any obstacle. We are very close," IOC marketing commission chairman Gerhard Heiberg told reporters. "We will meet in Innsbruck and finalise everything. Hopefully we will sign the contract there."
Heiberg said the new, four-Games deal would include the 2020 summer Olympics, which have yet to be awarded to a host, as well as the 2014 winter Games in Sochi, the 2016 Rio de Janeiro Olympics and the 2018 Pyeongchang winter Olympics.
McDonald`s is one of 11 top sponsors who contribute an estimated USD 100 million (64 million pounds) each for every two-Games package of one winter and one summer Games though the IOC does not release details on individual deals.
The company has been an official sponsor since 1976.
Dow Chemical Co. and Procter & Gamble joined the list of sponsors last year.
Atos Origin, Panasonic and Samsung have extended their partnerships until Rio while Coca-Cola, Visa, Omega, Dow, GE and Procter & Gamble have signed deals until the 2020 Games.
Heiberg has said he does not want to see deals go past 2020 as the IOC plan to reform their top sponsorship programme beyond that date.
Bureau Report
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Cookies Setting
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device and the processing of information obtained via those cookies (including about your preferences, device and online activity) by us and our commercial partners to enhance site navigation, personalise ads, analyze site usage, and assist in our marketing efforts. More information can be found in our Cookies and Privacy Policy. You can amend your cookie settings to reject non-essential cookies by clicking Cookie Settings below.
Manage Consent Preferences
Strictly Necessary Cookies
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work or you may not be able to login.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They are also used to limit the number of times you see an advert as well as help measure the effectiveness of an advertising campaign. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we may not know when you have visited our site, and may not be able to monitor its performance.