Reports in Japan are saying vehicle manufacturer Toyota will end its massive sponsorship deal with the International Olympic Committee after this year’s Paris Olympics
Vehicle manufacturer Toyota is set to end its massive sponsorship deal with the International Olympic Committee after this year's Paris Olympics, according to reports in Japan. Toyota has a contract through the 2024 Paris Games, which was reported to be valued at $835 million when it was announced in 2015. It included four Olympics beginning with the Pyeongchang 2018 Winter Games in South Korea and ran through Paris. It has been widely reported to be the IOC's largest sponsorship deal.
6 billion in the last four-year cycle ending with the Tokyo Games. The IOC's 15 so-called TOP sponsors paid over $2 billion in that period. The figure is expected to reach $3 billion in the next cycle. “There's no sports property that touches as many bases as the Olympics in truly every country,” Rick Burton, who teaches sports marketing at Syracuse University, told Associated Press. “You have high brand recognition. You just don't have other sports properties that gives you that.
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