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Toyota to Conclude Record Olympic Sponsorship After Paris 2024

The automaker's $835 million deal with the IOC will end due to dissatisfaction with fund utilization and athlete support.

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Overview

  • Toyota's sponsorship, the largest in IOC history, was signed in 2015 for $835 million.
  • The company is unhappy with how the IOC has used the sponsorship money, feeling it hasn't adequately supported athletes or promoted sports.
  • Toyota pulled its Olympic advertising during the Tokyo 2021 Games over public and safety concerns.
  • The IOC relies heavily on sponsorships and broadcast rights, which make up 91% of its income.
  • Toyota plans to continue supporting the Paralympic Games, though the IOC requires sponsors to support all events.