McDonalds has announced plans to extend its sponsorship of the Olympic Games for a further eight years, making it a partner for the games until 2020. This means that it will be a major sponsor of both the 2014 Winter Olympics in Sochi, Russia, and the 2016 Games in Rio de Janeiro, Brazil.
Also included in the deal are the 2018 Winter Games in Pyeongchang, South Korea, and the 2020 Olympics, of which the location is yet to be decided.
The fast food chain and the International Olympics Committee (IOC) have not disclosed the amount McDonalds have agreed to pay in the sponsorship deal, but it is believed to be worth hundreds of millions of dollars.
McDonalds has been a Top Partner of the IOC since 1976, a partnership the chain is “very proud of”, according to President and Chief Operating Officer, Don Thompson.
He says “It’s great to see how we evolved from a national sponsor to a worldwide partner over these years. Every dimension of our partnership shares the same values: excellence, team work, giving your best.”
McDonalds Executive Vice President, Kevin Newell continued, stating that the company would make use of the opportunity to introduce new programmes “focused on balanced eating and fun play for children.”
“We will be bringing children from all over the world together and involve them and their families into the sport.”
The announcement confirms McDonalds as the seventh top-tier sponsor to continue their financial backing of the Olympics to the Summer Games of 2020, joining other household names such as Coca Cola, Dow Chemical co. and Visa Inc.
IOC president Jacques Rogge was “extremely happy” about the continuing relationship between the Olympic organisers and McDonalds. He said “We have a really fruitful cooperation. It goes beyond financial support, it’s also about activating people on local and regional levels and about bringing the love of sport to young people.”
McDonalds is one of the major sponsors of the London 2012 Olympics, and have especially championed the positive effect becoming an Olympic city could have on business in London. Campaigns have highlighted the opportunities of showcasing commercial properties to the world through the Games, and small businesses could benefit from introductions to international trading partners during the 16 days the Olympics will last.
Previous Post
Bank of England Maintains Low Interest Rates: Effects on the Commercial Property Market
