Olympics and General Electric committed until 2020
The Olympics Games will receive the sponsorship of General Electric until the year 2020 in a deal worth millions of dollars which has just been finalised between the International Olympics Committee (IOC) and the U.S. conglomerate.
By taking on the sponsorship, General Electric has become one of the top supporter for a total of six Olympic events that are still to be held. Apart from being one of the main sponsors of the London 2012 Olympics, the company will extend its sponsorship
and promote its brand for the 2014 Winter Games that will be held in Sochi and then the 2016 Olympics that is scheduled to be held in Rio de Janeiro. Despite the fact that the host cities of the 2018 and the 2020 Olympic Games have not yet been decided, General
Electric has extended its support for the events.
The selection of the city that will play host to the Olympic Games in the year 2018 will take place next Wednesday in Durban, South Africa. The cities that are interested in bringing home the prestigious sporting event are from South Korea, France and Germany.
France has Annecy in the running, Germany has Munich and making the bid for South Korea is Pyeongchang.
The host city of the 2020 Olympics will not be decided until 2013.
General Electric is not the first company that has made such a deal with the IOC, big sponsors of the Olympics such as Coca-Cola, Dow, Omega, Proctor and Gamble as well as Visa have already made deals to assure their presence in the Olympics events.
Jacques Rogge, the president of the IOC made the following comments about the deal with General Electric: “Over the years, GE has become a vital part of the efforts to deliver sustainably responsible Olympic Games. We are delighted to continue our work with
them.”
Whereas Jeff Immelt, the CEO of GE, agreed with Rogge and stated, “The Olympic Games provide a unique opportunity to showcase our innovative technologies and services.”
With sponsors lining up to be part of the Olympics Games it seems that fans will get a chance to see their countrymen perform in events for a long time tot come.
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