McDonald’s has become the latest sponsor to walk away from the Olympics. The burger chain has been sponsoring the U.S. Olympic Committee since 1976 and has been a TOP partner with the IOC since 1996.
“As part of our global growth plan, we are reconsidering all aspects of our business and have made this decision in cooperation with the IOC to focus on different priorities,” McDonald’s Global Chief Marketing Officer Silvia Lagnado said in a statement.
“In today’s rapidly evolving business landscape, we understand that McDonald’s is looking to focus on different business priorities,” Timo Lumme, managing director of IOC Television and Marketing Services, said in a statement. “For these reasons, we have mutually agreed with McDonald’s to part ways. I would like to thank our friends at McDonald’s on behalf of the IOC for the commitment the company has shown to the Olympic Movement over many decades.”
Earlier this year, Anheuser-Busch InBev’s Budweiser ended its sponsorship of the U.S. Olympic Team after 32 years. Other brands not renewing their sponsorships following the Rio games include Citi, Hilton, TD Ameritrade and AT&T.
Advertising Age said some have speculated that U.S.-focused advertiser in part may have less interest in the coming few Olympic Games given the time differences with PyeongChang, the Tokyo 2020 Summer Games and the Beijing 2022 Winter Games.
The remaining 12 IOC Top Tier sponsors are Alibaba, Atos, Bridgestone, Coca-Cola, Dow, GE, Omega, Panasonic, P&G, Samsung, Toyota and Visa.
According to the IOC, Dow, GE, Panasonic, P&G, Samsung, Toyota and Visa have agreements through 2020; Bridgestone, Panasonic and Toyota through 2024; Alibaba through 2028; and Omega through 2032.
Photo credit Ad Age
