BrandArena: Toyota signs on as global Olympic sponsor

Friday 13 March 2015

Toyota signs on as global Olympic sponsor

One of the world's biggest car manufacturers Toyota Motor Corporation on Friday signed a global sponsorship deal with the International Olympic Committee - becoming the first auto manufacturer ever signed up.

International Olympic Committee (IOC) President Thomas Bach, second right, and Toyota President and CEO Akio Toyoda, second left, put hands together with Yoshiro Mori, left, president of the Tokyo Organizing Committee of the Olympic and Paralympic Games, and Japanese Olympic Committee President Tsunekazu Takeda during a press conference in Tokyo on Friday, March 13, 2015. (AP / Eugene Hoshiko)
In an agreement that runs until 2024, the car maker join 11 other global brands on the IOC's top sponsorship program.

The deal reportedly worth about $1 billion.

The contract will officially run from 2017 to 2024 but Toyota, the third sponsor to commit to 2024, has marketing rights in Japan with immediate effect.

Other leading sponsors are General Electric, Samsung, VISA, Atos, Dow, Omega and P&G.

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