McDonald's ends Olympic sponsor deal

The IOC and McDonald's have announced they have mutually agreed to bring their longtime partnership to an end.

A general view of a McDonald's restaurant in Tokyo

The IOC and McDonald's have announced they have agreed to bring their partnership to an end. (AAP)

US fast-food giant McDonald's has ended its 41-year association as sponsor with the International Olympic Committee, pulling out of its contract three years early.

The US company, a sponsor since 1976 and part of the IOC's top sponsors program that contributes more than one billion dollars ($A1.31bn) in every four-year cycle for the Games, had a contract running to 2020 and the Tokyo summer Olympics.

"In today's rapidly evolving business landscape, we understand that McDonald's is looking to focus on different business priorities," Timmo Lumme, Managing Director of IOC Television and Marketing Services, said in a statement on Friday.

"For these reasons, we have mutually agreed with McDonald's to part ways."

McDonald's Global Chief Marketing Officer Silvia Lagnado said in the IOC-issued statement: "As part of our global growth plan, we are reconsidering all aspects of our business and have made this decision in co-operation with the IOC to focus on different priorities."

McDonald's, first involved with the Games in 1968, was its foods retail sponsor.

Despite pulling out with immediate effect, McDonald's will continue at next year's Pyeongchang winter Olympics as sponsors with domestic marketing rights.

The IOC said it was not planning a direct replacement in the food retail department.


Share

2 min read

Published

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world