Samsung expands IOC sponsorship contract by eight years, remains top sponsor until 2028 Los Angeles Games, the world overseeing body stated on Tuesday.
The technology giant, Samsung first joined up with the International Olympic Committee in 1998 and was a local sponsor at the 1988 Seoul Olympics also, will bolster all Games up until and including the Los Angeles summer Olympics.
Samsung is one of 14 top patrons of the Olympics that additionally incorporates Coca-Cola, Intel, and Panasonic. A significant number of them have marked on till 2028 or past. In September, German guarantor Allianz turned into the most recent expansion to the group, joining to 2028.
The 2022 winter Olympics will be held in Beijing, while the 2024 summer Games will be organized in Paris. The hosts of the 2026 winter Games will be declared next year. Thomas Bach, IOC President said in a statement at the signing ceremony in Seoul that, “I am delighted that we will be building on two decades of partnership with Samsung for another 10 years.”
No finance related subtle details of the deal were disclosed however media reports have said the IOC has been looking for around $50 million (nearly Rs. 352 crores) every year for comparable deals.
Bach further added that, “Together, we are able to connect with and inspire Olympic athletes and fans around the world, and we look forward to working with Samsung to build the digital future of the Olympic Games.”
Brandy Vandyke was born and raised in the busy city of Annapolis. As a journalist, Brandy has contributed to many online publications including the USA Today and the Huffing Post. In regards to academics, Brandy earned a degree in economics from Eastern Connecticut State University and an master’s degree from Southern Connecticut State University. Brandy follows the money and covers all aspects of state and federal economy here at Lake View Expositor.