McDonald's ends Olympic sponsorship deal 3 years early

McDonald's ends Olympic sponsorship deal 3 years early
June 16, 2017 - 17:12 AMT

PanARMENIAN.Net - Fast-food chain McDonald's has ended its Olympic sponsorship deal three years early, The Associated Press reports.

The International Olympic Committee says confidential financial terms of the immediate separation were agreed to.

IOC marketing director Timo Lumme says "we understand that McDonald's is looking to focus on different business priorities."

McDonald's was among 13 top-tier sponsors signed through the 2018 Pyeongchang Winter Olympics and 2020 Tokyo Games.

An Olympic sponsor since 1976, McDonald's had signed an eight-year extension to run through 2020.

McDonald's had exclusive rights in the "retail food services" sponsor category.

The IOC says it will review the sales categories rather than sign a direct replacement.

McDonald's remains a national sponsor of the 2018 Olympics with domestic marketing rights in South Korea.

Related links:
AP. McDonald's ends Olympic sponsorship deal 3 years early
 Top stories
Azerbaijan admits death of 192 soldiers in Karabakh offensiveAzerbaijan admits death of 192 soldiers in Karabakh offensive
Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.
Azerbaijan increasing defense spending for 2023 by $650 millionAzerbaijan increasing defense spending for 2023 by $650 million
In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million).
Moscow could recognize those who speak Russian as Moscow could recognize those who speak Russian as "compatriots"
The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot".
Magnitude 5.6 quake causes damages in IranMagnitude 5.6 quake causes damages in Iran
The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.
Partner news
 Articles
Compassion is key, no matter what

An Italian photojournalist’s journey through the pandemic

 Most popular in the section
Global toll of mysterious hepatitis in children rises to 650 cases
Monkeypox does not pose a Covid-style risk, top health execs say
Sinjar becomes latest flashpoint for Iran-Turkey tensions in Iraq
Turkey-Syria earthquake death toll passes 15,000
Home
All news
Overview: World
Archive for June 16, 2017
Other news in this section
  Related sections
Economy
 Latest news
Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation.
Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush.
Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year.
Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan.
---