IOC and McDonald's mutually agree to end Worldwide TOP Partnership
The IOC and McDonald's have announced that they have mutually agreed to bring their Worldwide TOP Partnership to an end.
Timo Lumme, Managing Director of IOC Television and Marketing Services, said: “The IOC’s sponsorship strategy is aimed at delivering long-term partnerships that help the Olympic Movement achieve the objectives set out in Olympic Agenda 2020, our strategic roadmap for the future. This strategy is exemplified by the recent announcement of long-term, ground-breaking agreements with new and existing global Partners. In today’s rapidly evolving business landscape, we understand that McDonald’s is looking to focus on different business priorities. 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.”
“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,” said McDonald’s Global Chief Marketing Officer Silvia Lagnado. “We have been proud to support the Olympic Movement, and we thank our customers and staff, the spectators, athletes and officials, as well as the IOC and local Olympics Games organizing committees, for all of their support over the years.”
The financial terms of the separation was agreed by all parties, details of which are confidential.
McDonald’s Worldwide TOP Partnership will end with immediate effect, however McDonald’s will continue to be a sponsor of the Olympic Winter Games PyeongChang 2018 with domestic marketing rights in the Republic of Korea only. The company will deliver its Games-time operations, including restaurants in the Olympic Park and the Olympic Village.
The IOC has no immediate plans to appoint a direct replacement in the retail food operations sponsorship category, and will review the category in the broader context of existing Olympic marketing programmes.
The International Olympic Committee is a not-for-profit independent international organisation that redistributes more than 90 per cent of its income to the wider sporting movement, which means that every day the equivalent of USD 3.25 million goes to help athletes and sports organisations at all levels around the world.
The IOC has long-term commercial partnerships in place; has delivered record financial contributions to the Olympic Movement in the last Olympiad (2013-2016); and is on course to deliver record contributions in the current cycle (2017-2020). All current Worldwide TOP Partners have agreements through to 2020, with Bridgestone, Panasonic and Toyota through to 2024, Alibaba through to 2028, and Omega through to 2032.