McDonald’s and International Olympic Committee to renew contract
The marketing chief of the International Olympic Committee has recently given a statement in which he said that the fast food chain McDonald’s will be signing a deal with the IOC after a complete agreement is reached between the two parties.
The new deal that the two parties are debating currently will be an eight year long contract in which the McDonald’s will become the sponsor of the IOC. The fast food chain is already under a contract as a sponsor of the IOC but that is going to expire once
the London 2012 Olympic Games reach their close. Both the parties want to renew their relationship and according to the marketing chief of the IOC, the contract is likely to be sealed by the end of this month.
Gerhard Heiberg, who is the IOC marketing commission chairman, made the following comments on the matter of the contract between the IOC and McDonald’s, “The situation is positive and I don't see any obstacle. We are very close. We will meet in Innsbruck
and finalize everything. Hopefully we will sign the contract there.”
As the Olympic Games take place every two years, during the eight years of the contract, McDonald’s will become the official sponsor of the IOC for the upcoming four Olympic Games in the event that the deal is signed, including London 2012 Games. These Olympic
Games would include the events that will be taking place in Sochi in winter 2014 and the summer of the year 2016 in Rio de Janeiro. The city of PyeongChang has been able to get its hands on the 2018 winter Olympic Games. However, the city to host the Olympic
Games in the summer of 2020 has not yet been decided.
McDonald’s has a legacy with the Olympic Games as it has been associated with the IOC as an official sponsor since 1976. The other two major sponsors that the IOC had are Dow Chemical Co. and Procter & Gamble.
This year will be the year that London becomes the first city to have hosted the Olympic Games for three times.
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