Panasonic To Sponsor IOC Through '24 In First TOP Extension Past '20
Published February 6, 2014
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Panasonic extended its global Olympic sponsorship through '24, making it the first IOC TOP sponsor to sign a deal beyond '20. Financial terms of the deal were not available. TOP deals are typically valued at more than $100M over four years, which would make Panasonic’s deal worth more than $200M. Panasonic today held an official signing ceremony for the extension in Sochi.
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The agreement comes six months after Tokyo was awarded the '20 Games. Panasonic, which is headquartered in Osaka, Japan, was interested in supporting the Olympics in its home country, and the IOC was able to leverage that interest to secure a long-term deal.