Panasonic Wants to Extend Sponsorship
Panasonic hopes to extend its TOP Sponsorship deal with the IOC through at least the Tokyo 2020 Olympics.
The Japanese electronics company has sponsored the Games since 1987, and provides cameras to personnel at the Games and other sporting events.
Panasonic’s current deal runs through the 2016 Olympics in Rio de Janeiro, but there is speculation the company will not try to renew due to losing $15 billion the past two years.
"If we could expand that contract, we would be happy," Panasonic Chief Executive Kazuhiro Tsuga told reporters at an electronics trade fair in Berlin.
"Since it is in Tokyo, we have lots of chances."
TOP Sponsorship deals must be negotiated directly with the International Olympic Committee.
Olympic Marketing Head Warns of Shortfall
Outgoing Chair of the IOC Marketing Commission Gerhard Heiberg said Brazil’s slowing economy is scaring off companies from sponsoring the Olympics.
Speaking at the IOC Session on Monday, Heiberg warned the economic climate may not reach the expected $1.2 billion target that London 2012 and Beijing 2008 achieved.
"[Rio] had a very strong start in the commercial program and they have completed several deals so far," said Heiberg at the IOC Session.
"However, Rio is facing a tough Brazilian economy and the climate, the market, certainly looks very different than when the program was launched."
Leo Gryner, chief operating officer for Rio 2016, said that the Organizing Committee is having a hard time recruiting local sponsors.
Rio organizers have acknowledged that the World Cup may be cutting into potential local sponsorships.
That difficulty may require the OCOG to seek over $700 million in government to balance the operating budget.
The bleak outlook came a day after Rio 2016 President Carlos Nuzman presented to the IOC Session and was heavily questioned.
Coca-Cola World Cup Tour
Coca-Cola will sponsor the 2014 FIFA World Cup Trophy Tour.
The tour is expected to take the World Cup trophy to 89 countries across all 6 FIFA Confederations, travelling over 92,000 miles.
50 countries will host the trophy for the first time, and an expansive pan-Latin American tour will visit 39countries in the region.
"Coca-Cola shares the passion that fans have for football around the world and, through our partnership with FIFA, we champion the power of football to bring the world together," said Joseph Tripodi, executive vice president and chief marketing and commercial officer for Coca-Cola.
"Like all football fans, we’re especially excited about the 2014 FIFA World Cup taking place in the spiritual home of football and the Trophy Tour will be our opportunity to take the energy and passion of the host nation, Brazil, and share it with millions of football fans around the world."
Written byAaron Bauer.
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