(ATR) IOC marketing chief Gerhard Heiberg tells Around the Rings that he is "very close" to finalizing an eight-year extension of McDonald's TOP sponsorship through 2020.
"We are very, very close to finalizing. I feel we have almost reached an agreement. I think it will fall into place in a short time," Heiberg told ATR onTuesday.
He expects the new deal to be announced in the next couple of weeks.
McDonald's spokesperson Lisa Howard would shed no additional light upon her company's potential renewal when reached byATRlater Tuesday for comment.
"McDonald’s is currently focused on worldwide plans for the London Olympic Games," she said in a statement.
"Regarding McDonald’s sponsorship in the future, we have no announcement at this time."
With an estimated value of around $200 million, the renewal beyond the London Games would give McDonald’s global Olympic sponsorship rights for Sochi 2014, Rio 2016, PyeongChang 2018 and the 2020 Olympics.
Inking the agreement would mark the end of many months of negotiations with McDonald's.
Talks were well underway with the fast food giant, along with computer firm Acer, when GE extended its TOP partnership through 2020 in the summer.
GE joined Coca-Cola, Dow, Omega, P&G and Visa as the IOC's global partners through those Games, whose hosts are not decided until September 2013.
The IOC member from Norway, who also chairs the IOC collectors' commission, said he is "still in talks" with Acer to renew through 2020.
"The PC category is a little more difficult. They are interested. Maybe we will find an agreement before London [2012]," Heiberg said.
Heiberg also revealed that he does now expect to secure a 12th sponsor forthe 2014/2016 quadrennial. Several months ago he suggested the IOC was satisfied with its 11 partners.
"We are talking to some companies. I am optimistic they are interested in becoming TOP sponsors," he said.
"We have started from scratch with some of them so it may take some time. We are not in a hurry. I still think 12 can be achieved for 2014 and 2016."
Reported by Mark Bisson
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