Johnson & Johnson drops out of sponsorship
The International Olympic Committee can’t put a Band-Aid on this financial cut: Johnson & Johnson passed on the chance to renew its lucrative global sponsorship deal.
The IOC confirmed Monday that the health care conglomerate would not renew its top-level sponsorship worth up to $100 million as first reported by Sports Business Journal.
“Our sponsorship of the International Olympic Committee concludes at the end of 2008 and will not be renewed,” Johnson & Johnson spokeswoman Lorie Gawreluk e-mailed.
China, with more than 1 billion residents and a burgeoning consumer marketplace, was a major draw for most sponsors. The next two games are in Canada and the United Kingdom — mature economies that combined have about a tenth of the population of China.
For the Beijing Games, Johnson & Johnson manufactured its signature adhesive bandages with Olympic mascots on them and set up a pavilion for fans to come see terra-cotta warriors from the time of emperor Qin Shi Huang — though overzealous security on the Olympic Green kept many away.
Read the rest of the article here.
Worldwide Olympic sponsors are allowed to use the copyrighted Olympic name & logos in their advertising anywhere in the world. But it comes with a pretty high price. The Beijing games had 12 Worldwide sponsors, including Visa, McDonalds, and Coke. The IOC already has agreements with 9 companies to be worldwide sponsors for the Vancouver games, including Panasonic and Samsung. TV rights, mostly from NBC, will provide approximately another $2.5 billion.
10 Comments to Johnson & Johnson drops out of sponsorship
Be on the lookout for the Canadien sponsors to come out of the woodwork with American sponsors pulling out.
That is certainly a big loss, but the games will go on. The Olympics is much bigger than a simple company.
“Be on the lookout for the Canadien sponsors to come out of the woodwork with American sponsors pulling out.” Right on… Why are the sponsors pulling out?!
It is sad to see a major sponsor pull out of the Vancouver 2010 Winter Games. I am a firm believer international companies should give back to the Community and the Olympics provides a perfect opportunity. The cost of hosting the Olympics is a huge financial liability, which local communities are unable to meet without appropriate support. I congratulate those named sponsors for stepping up to the plate, especially when the global economy is suffering so.
Finding sponsers is not hard,but just like everything else money is the key to everything. Of course it takes money to have these luxerys we like so much. This goes for the Olympics also.
timsddJuly 25, 2009
This may be a tough time for getting those large sponsors.
I guess it’s life that big events like the Olymics attract so much money and sponsorship. It is a shame thouht that the amatuer ideal of the Olympics and taking part not winning have to be diluted by the over commercialisation of it all.
100 mlilion is a big chunk of change. That will have a large affect on the olympice for sure!
Getting large sponsors at this time could be very difficult. Recessions are hard on everyone, even big companies.
At present it is nearly impossible to find any big sponsor. But I guess for Olympics it will work. Thumbs up.
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June 22, 2009