(ATR) The IOC announced Bridgestone as the newest company to join its TOP Sponsor program.
Bridgestone inked the agreement through 2024 to include the Rio 2016, PyeongChang 2018, Tokyo 2020, 2022, and 2024 Olympics. Previous reports stated that Bridgestone would only serve as a TOP Sponsor through 2020.
IOC president Thomas Bach was joined byMasaaki Tsuya, CEO of Bridgestone, for a signing ceremony in Tokyo at Bridgestone headquarters.
Bridgestone is the first tire company to be a TOP Sponsor of the IOC and joins Panasonic as the only Japanese companies in the program.
Panasonic is the only other TOP Sponsor signed through the 2024 Olympics.
Former IOC marketing director Michael Payne said on Twitter the length of the deal is an indication that the Japanese are "getting back into sports marketing big time."
This is the first major signing for new IOC Marketing Commission chairman Tsunekazu Takeda. Takeda is also the president of the Japanese Olympic Committee, and vice president of the Tokyo 2020 Organizing Committee.
"I am delighted that a leading Japanese company, Bridgestone, will become the 11th worldwide TOP Partner and the second TOP Partner to commit through to 2024," Tsunekazu Takeda said in a statement.
"I am also personally very happy that we were able to make this global announcement in Tokyo."
The product categories covered by the agreement includeseismic isolation bearings, non-motorized bicycles, and the different ranges of Bridgestone tires. The tires will appear on all athlete, media, and organizer transport vehicles during the Olympic Games.
Bridgestone will also partner with all 204 national Olympic committees and Olympic teams, according to the IOC. The Canadian Olympic Committee already has an eight-year deal in place with Canadian Tire, which could present a conflict. Canadian Tire signed on to sponsor the COC in January, 2013.
The total cost of the deal was not announced.
Written by Aaron Bauer
20 Years at #1: Your best source of news about the Olympics is AroundTheRings.com, for subscribers only.
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