McDonald’s Corp. terminates the sponsorship of the Olympic games for 3 years earlier than planned. In 2012, the International Olympic Committee (IOC) and the company entered into an agreement to extend cooperation for another 8 years, but by mutual consent, these relationships are terminated prematurely. This was announced by the international Olympic Committee in a press release. Now guide fast food-giganta intends to concentrate on your core business.
The termination of cooperation takes effect immediately, — stated in a press release from the IOC, but McDonald’s will sponsor the winter Olympics in 2018, which will be held in South Korea in recent times.
«In today’s rapidly changing business space, we understand that McDonald’s wants to focus on different business priorities. For these reasons, we mutually agreed to terminate cooperation with the company», – said the representative of the IOC’s Timo Lumme.
Financial terms of contract termination with the company was agreed by all parties, but their details remain confidential.
The Council also declared that in 2015 he was awarded a number of contracts with some major companies, including Bridgestone, Alibaba, Panasonic, so contributions are expected to record, despite the «quit game» McDonald’s.
Today, McDonald’s intends to minimize their costs, because she actively invests in improving the quality of food, service in restaurants and empowerment for online orders. And speaking of advertising, the company concluded that it is more efficient and cheaper to work directly with individual athletes or countries.
McDonald’s has sponsored the Olympic games since 1976 years and made annually sponsor contributions of about $ 4 billion.
