Tokyo Olympics 2020: Tournament surpasses $3.0 billion in domestic sponsorship revenues as companies continue to line up

The IOC’s Coordination Commission chief for Tokyo, John Coates, said local sponsorship agreements were up to 62 companies for all three tiers of sponsorship arrangements

Reuters June 25, 2019 21:22:10 IST
Tokyo Olympics 2020: Tournament surpasses $3.0 billion in domestic sponsorship revenues as companies continue to line up
  • The Tokyo 2020 Olympics have generated record domestic sponsorship revenues of more than $3.0 billion, the International Olympic Committee said on Tuesday — three times more than any previous summer Games

  • The IOC’s Coordination Commission chief for Tokyo, John Coates, said local sponsorship agreements were up to 62 companies for all three tiers of sponsorship arrangements

  • Tokyo’s bid file had said some 7.8 million tickets would be available for Games but 20-30 percent of those are reserved for international customers and sponsors

Lausanne: The Tokyo 2020 Olympics have generated record domestic sponsorship revenues of more than $3.0 billion, the International Olympic Committee said on Tuesday — three times more than any previous summer Games.

Tokyo Olympics 2020 Tournament surpasses 30 billion in domestic sponsorship revenues as companies continue to line up

Representational image. Reuters

There is huge enthusiasm among the Japanese for the Tokyo Games, and the public have rushed in their millions to buy tickets.

The IOC’s Coordination Commission chief for Tokyo, John Coates, said local sponsorship agreements were up to 62 companies for all three tiers of sponsorship arrangements.

“This equates to revenues exceeding 3.0 billion dollars from national partnerships. That is an amazing amount of money. This does not include the partnerships with (Japanese companies) Toyota, Bridgestone and Panasonic and their contribution to the TOP programme,” Coates told the IOC session.

The three companies have separate deals with the IOC as major sponsors of the organisation, worth hundreds of millions of dollars in total.

In comparison, the London 2012 Games raised roughly $1.1 billion from domestic sponsors — a record at the time — while Rio de Janeiro in 2016 claimed it had slightly surpassed London, although that is unlikely with final accounts inaccurate given ongoing corruption probes linked to those Olympics.

The IOC has been struggling to attract new cities to bid for the Games and awarded the 2026 winter Olympics on Monday to Milan and Cortina D’Ampezzo after four other cities dropped out and Stockholm was left as the only other bidder.

But in Japan, the Games have generated great enthusiasm with 7.5 million citizens registering to apply for tickets through a lottery system, many of whom ended up without any.

Tokyo’s bid file had said some 7.8 million tickets would be available for Games but 20-30 percent of those are reserved for international customers and sponsors.

“7.5 million ticket (requests). This is an indication of this strong support and high level of interest among the Japanese public,” Coates said.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

New Japanese PM Yoshihide Suga gets word out: He supports Tokyo Olympics next year
Sports

New Japanese PM Yoshihide Suga gets word out: He supports Tokyo Olympics next year

Yoshiro Mori, the head of the local organising committee and also a former prime minister, said Prime Minister Yoshihide Suga has a "strong commitment" to the Tokyo Olympics.

Eliud Kipchoge interview: 'It’s still my legs that are doing the running, not the shoe'
Sports

Eliud Kipchoge interview: 'It’s still my legs that are doing the running, not the shoe'

In this interview with Firstpost, marathon running legend Eliud Kipchoge talks about the shoe controversy, running at the London Marathon this year, and running an actual marathon under the two-hour mark.

Tokyo Olympics 2020 consulting firm paid $3,70,000 to IOC official's son before and after Japan won bid
Sports

Tokyo Olympics 2020 consulting firm paid $3,70,000 to IOC official's son before and after Japan won bid

Papa Massata denied the allegations, saying the money he received was related to a "sponsorship deal made in China. There is nothing to do with the Tokyo Olympics."