MAM
Coke extends deal for Olympics till 2020
MUMBAI: The one partnership that has sustained the modern Olympic Movement more than any other has been further extended. Coca-Cola has extended its sponsorship for the most prestigious sports event The Olympics till 2020.
The deal was signed a couple of days ago in Beijing which will host the 2008 Summer Games. The agreement starts in 2009 and covers the 2010 Winter Olympics in Vancouver, British Columbia, the 2012 Summer Games in London and the games of 2014, 2016, 2018 and 2020.
Under the deal, Coca Cola has the sole right to advertise itself as the official soft drink of the Olympic Gamesduring the Olympic games through 2020. The company retains exclusive marketing rights in the nonalcoholic drinks category and can use the Olympic symbols and mascots in its promotions.
In turn, the company has agreed to provide cash and products to support participating athletes and teams. Coca Cola said it is 1 of the longest-continuous supporters of the worldwide games.
Media reports further indicate that Coca-Cola has also targetted Beijing as its Chinese selling epicenter for the next 10 years. On average, Beijingers consume 66 bottles each of Coca-Cola every year. At present, 250 bottles and 1,100 tins of Coca-Cola are produced in Beijing every minute.
This latest renewal of the most-enduring partnership in the history of the Olympic Games begins in 2009 and lengthens the role of Coca-Cola as Official Soft Drink of the Olympic Games through 2020.
The deal also effectively extends the partnership of Coca-Cola and the Olympic Movement – a relationship that began in 1928 – to 92 years without interruption.
On hand at the signing of the deal as representatives of Olympic champions and Olympic Games hopefuls around the world, were Jean-Claude Killy, three-time Olympic Games gold medalist from France and member of the IOC; and young Chinese diver Wu Min Xia, who captured a gold medal and a silver medal at the Athens 2004 Olympic Games.
The announcement ceremony and subsequent dinner at the Great Wall also capped a special congress of Coca-Cola bottling partners from around the world. All attendees were invited to sign their names, as witnesses, to a ceremonial document signifying the renewed partnership of Coca-Cola and the IOC.
The agreement was celebrated as China marks three years to go until the Beijing 2008 Olympic Games. Ceremony guests included leadership from both the Beijing Organising Committee for the Games of the XXIX Olympiad and the upcoming Torino 2006 Olympic Winter Games, which take place February 10-26 in Italy.
International Olympic Committee president Jacques was quoted in an official release saying, “The contribution of Coca-Cola to the Olympic movement has always been the model of a true partnership. The Olympic Games would not be where they are today, and so many athletes over the years could not have competed in the Games, without the extensive corporate support pioneered by Coca-Cola as our longest continuous sponsor.
“Because the Olympic Family and Coca-Cola share the values of Olympism at their deepest level, this is a natural partnership that we hold most dearly” .
Coca Cola chairman and CEO E. Neville Isdell. said, “The privilege of being associated with the Olympic Movement for nearly a century is reflected in this landmark agreement. Our investment in the future of the Olympic Games underscores our faith in the Games and how they continue to make our world a little bit better.
“This long-term commitment comes at a time when those of us throughout the Coca-Cola system are rededicating ourselves to the Olympic spirit. It is important we share those values and live Olympic in our everyday lives, not just celebrate the Olympic ideal every two or four years.”
While the terms of the sponsorship were not disclosed the cost of worldwide sponsorships for the Olympics is said to be upwards of $60 million for each four-year cycle. Coke is the fifth company to join the International Olympic Committee’s global sponsorship programme called Top for 2010 and 2012. The others are Visa, McDonald’s, Atos Origin and General Electric.
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