The three main Japanese sponsors of the International Olympic Committee, Toyota, Panasonic, and Bridgestone, are ending their relationships.
Due to this, the IOC is now without a Japanese sponsor, and it is anticipated that attention will turn to the Middle East and India in search of new sponsorship revenue.
Japanese sponsors have withdrawn from the Olympics, most likely due to the 2020 Tokyo Olympics being held one year later than planned.
Due to the supporters’ inability to enter competition sites, the postponement decreased sponsors’ visibility, raised expenses, and revealed numerous corruption issues related to the Games.
Three of the alleged 15 TOP Olympic sponsors are listed here. Over $2 billion was paid by the 15 to the IOC during the previous four-year Olympic cycle.
Laptops 1000Following the conclusion of the August Games in Paris, Toyota Motor Corp. declared that it would not be extending its sponsorship.
The automaker’s vision was not aligned with the objectives of the IOC, as Chairman Akio Toyoda stated last month at a gathering of US dealerships.
“I don’t think the IOC is genuinely concerned with putting people first. Toyoda stated in English, “I think the Olympics should just be about watching athletes from all walks of life and all kinds of challenges achieve their impossible.”
Toyoda pledged to keep funding the Paralympic Games and individual athletes competing in the Olympics and Paralympics.
When the contract with Toyota was announced in 2015, it was reportedly worth $835 million, making it the largest deal with the IOC. From the Pyeongchang 2018 Winter Games in South Korea to the just concluded Olympics and Paralympics in Paris, it encompassed four Olympic Games.
ABInBev, Airbnb, Alibaba, Allianz, Atos, Bridgestone, Coca-Cola, Deloitte, Intel, Omega, Panasonic, P&G, Samsung, Toyota, and Visa are the top sponsors of the IOC.
Bridgestone Corp., a tire manufacturer and 2014 Olympic sponsor, announced this week that it will not extend its agreement with the IOC beyond this year.
Toyoda promised to continue supporting individual athletes competing in the Olympics and Paralympics as well as the Paralympic Games.
This isn’t related to TOP sponsors.
Investigating suspected vote-buying in the 2013 IOC decision to select Tokyo as the host city for the 2020 Summer Olympics was another task for French prosecutors.
In the most recent four-year cycle that concluded with the Tokyo Games, the IOC earned $7.6 billion. Data for the cycle that concludes with the Olympics in Paris have not yet been made public.
The TOP sponsors of the IOC spent more than $2 billion. In the upcoming cycle, the amount might rise to $3 billion.
At least half of the $13 billion Japan officially spent on the Olympics in Tokyo came from public funds. According to a government audit, the actual cost was twice that amount. Approximately $1.8 billion was contributed by the IOC.
