Tokyo Up to Eight Sponsors; PyeongChang Deals Coming -- Sponsor Spotlight

(ATR) Nippon Life Insurance and Tokio Marine & Nichido are the latest sponsors of the Tokyo Olympics.

Both are gold partners in the insurance categories. Nippon Life Insurance and Tokio Marine & Nichido are already top tier partners of the Japanese Olympic Committee.

They become the seventh and eighth domestic sponsors of the 2020 Games, surpassing the six partners Rio 2016 secured for next year’s Olympics.

Commenting on the Nippon Life Insurance deal, Tokyo 2020 president Yoshiro Mori said: "The continued support of such an illustrious company is very encouraging for Tokyo 2020 in our efforts to deliver a successful 2020 Games."

Earlier in the week, Tokyo 2020 unveiled JX Nippon Oil & Energy as its sixth national sponsor.

A trio of deals were announced in February – Canon, NEC and Fujitsu became Gold Partners. Asahi Breweries and Nippon Telegraph and Telephone Corp inked domestic sponsorships in January.

Tokyo 2020 aims to generate more than $1.3 billion from domestic sponsors.

PyeongChang 2018 Adds Airline; Negotiating Deals

Korea’s number one airline will fly the Olympic rings.

PyeongChang 2018 president and CEO Yang Ho Cho spoke in a room at the Lakai Sandpine Resort in Gangneung filled with Co-comm and IOC members, PyeongChang 2018 and Korean Air staff, members of government and national media.

"We are happy to have Korean Air as our partner and I am confident that this sponsorship agreement will stimulate other Korean companies to join as sponsors for the PyeongChang 2018 Olympic and and Paralympic Winter Games," Cho said.

"With today’s agreement, Korean Air will provide optimum air travel services for Games-related personnel including participating athletes and coaches, technical staff and judges, and members of the Olympic family.

"I hope this sponsorship can boost can Korean Air to a higher level among the international traveling public as a leading global airline."

The amount of the sponsorship was not revealed. According to figures Korean Air and PyeongChang 2018 are partners from Pyeongchang 2018, more than $885 million or 1 trillion won are expected to be raised from the national market. This includes three tiers of sponsorship as well as ticket sales and licensed products.

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During the IOC Coordination Commission visit to PyeongChang, Cho noted that all efforts are being taken to bring more sponsors on board as soon as possible to ensure the financial success of the Games.

"In the success of the Winter Games, many potential sponsors want to contribute themselves, but we need to approach them one-by-one," Cho said. "We are working with our government to help speed up the process so we can secure the maximum number of sponsors possible."

In one of the most pressing questions being asked by South Korean media, IOC marketing executive Timo Lumme clarified that a local partner in the automobile sponsorship category could come on board for 2018, despite the IOC’s recent deal with new top sponsor Toyota Motor Corporation

"If POCOG wishes to negotiate and conclude an agreement for a local sponsorship in the territory of Korea for cars, automobiles and mobility then they will be able to do that," Lumme said, addressing a scrum of South Korean media following the news conference.

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Team GB Adds "Impressive Brand"

Aldi will help market British athletes in the run up to Rio 2016.

The supermarket chain signed on to sponsor the British Olympic Association on Mar. 19, the first supermarket to ever partner with the BOA.

"Their drive for excellence matches our own and we’re looking forward to working with them on our community and sporting engagement programs," Bill Sweeney, chief executive officer of the BOA, said in a statement.

Aldi will help the BOA market Olympians through the Get Set and Home-Grown Heroes campaigns the Olympic Association runs.

"Aldi is a growing, impressive brand in the UK and is a great fit with Team GB."

Written by Mark Bisson, Brian Pinelli, and Aaron Bauer

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