IOC and McDonald’s agree to end worldwide TOP partnership
June 16, 2017
The IOC and McDonald’s have announced that they have mutually agreed to bring their worldwide TOP (The Olympic Partner) partnership to an end.
The financial terms of the separation were agreed by all parties, details of which remained confidential.
McDonald’s worldwide TOP partnership will end with immediate effect. However, McDonald’s will continue to be a sponsor of the Olympic Winter Games PyeongChang 2018 with domestic marketing rights in the Republic of Korea only. The company will deliver its Games-time operations, including restaurants in the Olympic Park and the Olympic Village.
McDonald’s has been an Olympic sponsor since 1976 and became a global partner in 1988. In 2012, the IOC extended the partnership with the fast-food giant for eight years and paid an average of $100m for each four-year Olympic cycle.
The IOC has no immediate plans to appoint a direct replacement in the retail food operations sponsorship category and will review the category in the broader context of existing Olympic marketing programmes.
Timo Lumme, Managing Director of IOC Television and Marketing Services, said: “In today’s rapidly evolving business landscape, we understand that McDonald’s is looking to focus on different business priorities. For these reasons, we have mutually agreed with McDonald’s to part ways. I would like to thank our friends at McDonald’s on behalf of the IOC for the commitment the company has shown to the Olympic Movement over many decades.”
“As part of our global growth plan, we are reconsidering all aspects of our business and have made this decision in cooperation with the IOC to focus on different priorities,” said McDonald’s Global Chief Marketing Officer Silvia Lagnado.
