IOC Pres. Jacques Rogge and Matsushita chief Fumio Ohtsubo after announcing the sponsorship extension. (ATR)Japanese electronics giant Panasonic today announced it’s extending its current sponsorship of the Olympic Games by six years, taking it into the summer of 2016. Panasonic has been a TOP sponsor since 1985.
Although terms and exact numbers were not disclosed, British sports experts say the deal could be worth almost $200 million, given that a single four-year sponsorship can cost upwards of $70 million.
The hi tech, multi-media driven ceremony was clearly orchestrated to showcase Panasonic’s audio and visual prowess, in contrast with the historic backdrop of the magnificent Banqueting Hall in London.
The president of the Matsushita Electric Industrial Company, Fumio Ohtsubo, signed paperwork with the International Olympic Committee President Jacques Rogge and IOC Marketing Commission Chairman Gerhard Heiberg. London’s Banqueting Hall was the venue for the announcement. (ATR)
Guests included London 2012 leader Sebastian Coe; Dave Cobb, Vancouver 2010 vice president, and Dmitry Chernyshenko, leader of the successful Sochi 2014 bid.
Speaking after the signing, Ohtsubo promised the next three Olympic Games will be a High Definition visual and audio feast for Representatives from Vancouver 2010, London 2012 and Sochi 2014 joined the presidents of the IOC and Panasonic parent Matsushita onstage after the ceremony. (ATR) a worldwide audience of two billion people.
“Spectators will be able to view a drop of sweat on the runner’s forehead as he or she sprints off the starting line. The excitement of the Games will be much closer to people than ever before – regardless of wherever they are in the world,” he said.
Spokesmen say Olympics are an excellent way to market high-end consumer and business products to a global audience.
Speaking about the technology currently being tested in Beijing for 2008 Games, Rogge said, “Panasonic’s global reach, expertise and cutting edge video and audio technologies have proved essential over the last decade in staging the Games. The company’s vision for continued high definition technology will redefine the personal broadcast experience for the two billion strong global Olympic audience in a way not seen before.’’
With reporting from London by Roger Kaplinsky-Dwarika.
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