The IOC and Toyota on Friday announced the automaker will join the governing body's TOP program as part of a deal that runs from '17-24. Toyota's marketing rights in Japan are effective immediately. Toyota's agreement falls under the mobility category, which includes vehicles, mobility services and solutions. The agreement covers all relevant Toyota brands within the category, including its namesake brand plus Lexus and Scion. IOC President Thomas Bach and Toyota President & CEO Akio Toyoda were on hand for the announcement (IOC). REUTERS' Karolos Grohmann reports the auto maker "becomes the first company of its kind to join 11 other global brands on the IOC's top sponsorship program in a deal reported to be just under" $1B. Toyota "is also the third Japanese company to join TOP, after Panasonic and Bridgestone as the Olympics prepare to go to Tokyo" in '24. Both have "also signed up" through '24. Other major sponsors, including McDonald's, Samsung, Coca-Cola and Atos, "have signed up until" '20 or beyond (REUTERS, 3/13). AUTOMOTIVE NEWS' Hans Greimel notes the deal "means national and global Olympic activities will exclusively use Toyota Motor vehicles." Japanese media outlets reported that Toyota "will pay" $835M. Bach said that the IOC "added a new mobility sponsorship category, considering the logistical challenges facing the games." He said, "Traffic management and traffic is one of the major challenges at the Olympic games" (AUTONEWS.com, 3/13).
